Unfortunately the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a day to forget and in afternoon trade is down 1.4% to 5,678 points.
Four shares which have managed to avoid today’s sell-off and climb higher are listed below. Here’s why they have posted gains:
The Cochlear Limited (ASX: COH) share price has climbed 4% to $160.48 today despite there being no news out of the implantable hearing solutions provider. In fact, this gain is even more impressive considering a research note out of UBS this morning revealed that its analysts have a sell rating and $130 price target on its shares.
The Impedimed Limited (ASX: IPD) share price has jumped 12% to 69 cents after the medical equipment manufacturer announced that its SOZO bioimpedance spectroscopy connected platform had achieved the CE Mark. This means the device can now be made commercially available to physicians and patients throughout Europe as well as Australia. I think this is great news and makes it worthy of a closer look.
The Lovisa Holdings Ltd (ASX: LOV) share price has climbed almost 5% to $3.61. With no news out of the company, it appears bargain hunters may be swooping in following a recent sell-off. Despite today’s gain, the fashion accessory retailer’s shares are still down around 12% since this time last month.
The Monash IVF Group Ltd (ASX: MVF) share price has rebounded from recent declines with a 4% gain to $1.66. The fertility treatment specialist’s shares have come under heavy selling pressure following the departure of its CEO and one of its doctors, as well as increased competition. With its shares trading at 13x annualised earnings and providing a trailing fully franked 5.3% dividend, I think Monash IVF may now offer investors a compelling risk/reward.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.