Ryman Healthcare ltd [RYM.NZX] has had a good year results wise, with a 2010 half year profit up 25% on the comparable 2009 period. It has a long history of uninterrupted increasing profits and dividends.
While this success was reflected in the RYM stock price pre the 2008 stockmarket crash, post crash the stock reached as low as $1.12 at the beginning of 2009 on fears the property sector which had also crashed was going to impact on RYM - that was not to be. Since then the stock has pretty much risen unabated on a series of good profit results.
Yesterday the RYM stock price hit a 4 year intraday high of $2.57 and finished trading at $2.51 and is around 20c off its all time highs. The stock has put on nearly 10% in value since the end of March/ beginning of April and nearly 5% in just the last week.
Just to warn punters that the share price is at near high historical levels and while a positive 2011 Full Year profit out in May is probably the impetus for the rise, investors should be cautious at this fully priced company. While the historical growth levels may continue in the future, as they have for a decade or more and the share price may take a ride with it, it is worth backing off a bit if you already have your eyes on buying this company for the long term and buying on any weakness the share price may have.
Having said that results usually do the talking to the market and this could be the middle of a rise in share price that reflects the long term potential of this star NZX company.
Buy on weakness for excellent long-term gains.
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c Share Investor 2011
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