The ASX 200 had a rather nervy start to the day as stocks declined as much as 0.7% this morning. However, the announcement of a positive GDP surprise started a stock rally that resulted in the ASX 200 closing the day 7527 points – representing only a marginal 0.1% decline.
GDP growth beat expectations by 0.7% and both the bond and currency markets greeted the news positively. The Australian Dollar pushed ahead and bond yields fell. While the result itself is backward looking as Australia battles the pandemic and a weakening economy as a result, there are opportunities out there on the ASX. There have been ASX dividend stocks and growth stocks that have made significant gains in the past few weeks that are definitely worth considering.
Wisetech Global Ltd. engages in the provision of software solutions to the logistics industry globally. The firm develops, sells, and implements software solutions that enable logistics service providers to facilitate the movement and storage of goods and information, domestically and internationally. Its software solutions include CargoWise One and Borderwise.
The WTC share price continues to surge taking the monthly gain to over 50% today on the back of Wisetech Global beating all market estimates in their FY21 financial performance. Revenue and EBITDA beat estimates and guidance and the WTC Board has declared a fully franked final ordinary dividend of 3.85 cents per share (cps) representing a 141% increase on the FY20 final dividend. WTC also provided guidance on the basis that market conditions do not materially change, noting that changes in industrial production and/or global trade (both favourable and unfavourable) may impact guidance. The company anticipates FY22 revenue growth of 18% to 25% (representing revenue of $600 million – $635 million) and EBITDA growth of 26% to 38% (representing $260 million – $285 million).
WTC shares closed today at $48.45 a share and is one of the best ASX stocks to consider right now.
The California based medical equipment manufacturing company also now offers a cloud-based software for diagnosis and treatment without the need for a hospital. Telemedicine and out-of-hospital healthcare looks to be booming and the pandemic has accelerated this shift. As a result, ResMed has benefitted and is aiming to serve 250 million patients through its products by 2025. An ambitious growth strategy that is well within reach for the company. Both sleep & respiratory care, and their SaaS offering has seen steady growth in the past few years and our estimates point towards ResMed being a good investment in the long-term.
The RMD share price has been a top performer since June. RMD shares were initially on a downward trend this year, however, the stock price has gained over 47% in the past 3 months. This morning, RMD shares continued to perform in the green territory as the company announced their Q4 results for FY20. In addition to the bullish financial performance, RMD shares were also boosted by the pitfalls of one of their leading competitors – Philips. This has inherently increased the market share that Resmed’s sleep apnea products demand in the market by at least 5%, while analyst estimates also suggest RMD market share increasing as much as 10% in the long-term.
RMD shares have thus not looked back and continue to trade with a positive momentum. RMD shares closed at $39.67 a share, taking the 3 month gain of RMD to 49%.
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