The market may have been struggling a little this week, but that hasn't stopped some shares from shooting higher.
Three shares that have just hit 52-week highs or better this week are listed below. Here's why they are on fire:
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price continued its ascent and hit an all-time high of $18.57 on Wednesday. Investors have been fighting to get hold of the sleep treatment focused medical device company's shares following a recent upgrade to its full year guidance. Thanks partly to the release of its new Vitera device, management lifted its guidance to revenue of NZ$1.19 billion and net profit after tax in the range of approximately NZ$255 million to NZ$265 million. The latter compares to net profit after tax of NZ$209.2 million in FY 2019.
The Macquarie Group Ltd (ASX: MQG) share price climbed to a record-high of $138.07 yesterday before edging lower. A strong performance in FY 2019 and a positive medium term outlook appear to be behind its strong share price rise. Its shares were also given a boost by a broker note out of Morgan Stanley this month. According to the note, its analysts have retained their overweight rating and $143.00 price target on the investment bank's shares. They believe Macquarie will either meet or beat its full year guidance. Another attraction for investors is no doubt its generous dividend yield in a low interest rate environment. Its shares currently offer a partially franked forward 4.3% dividend yield.
The Novita Healthcare Ltd (ASX: NHL) share price raced to a multi-year high of 10 cents on Wednesday. The early childhood technology company's shares are now up over 900% in the space of just one month. The catalyst for this strong gain was news relating to both its TALi Detect and TALi Train programs. TALi Detect is a digital game-based screening tool to assess potential attention deficits. Whereas TALi Train is an intensive digital program that strengthens children's three core attention skills. Both programs have recently received determinations that they can be delivered via the U.S. Reimbursement Code system. Management notes that there is a massive market opportunity in the United States.
