The Monash IVF (ASX:MVF) share price is gaining 6% today. Here’s why

The company appears to be benefiting from Victoria lifting a ban on IVF treatments.

| More on:
A couple smile as they look at a pregnancy test.

Image source: Getty Images

Key points

  • The Monash IVF share price has lifted nearly 6% today
  • It comes after COVID-19 IVF restrictions were lifted in Victoria
  • The company will resume IVF services next week

The Monash IVF Group Ltd (ASX: MVF) share price is rising today amid the lifting of a COVID-19-related suspension on IVF treatments.

The fertility services company’s shares are trading at $1.052 in afternoon trade, up 5.73%.

Let’s take a look at what may be impacting the company today.

Victoria IVF ban lifted

Investors appear to be reacting positively to news the company will be able to recommence fertility services. The Victorian State Government lifted a temporary ban on IVF procedures today.

The order had originally slated IVF procedures to remain suspended until 12 April due to COVID-19 restrictions on non-urgent surgeries.

Today, however, the government reversed this decision which will enable IVF procedures to recommence. Monash IVF says it will recommence its IVF services by 26 January.

An online petition calling for a reversal of the suspension of fertility treatments across Victoria gained 140.000 signatures, 7News reported.

In a statement released to the ASX, Monash IVF stated:

Monash IVF is pleased IVF procedures will recommence and the company is focussed on informing patients of their options to recommence their treatment and ensure sufficient workforce and resources are in place to meet demand.

The company also remains focussed on maintaining appropriate measures and protocols in place to protect the health and safety of the company’s patients, employees and specialists.

Monash IVF shares have seen consistent gains in the past year. In November, the company released its financial results for FY 2021, which showed adjusted net profit after tax soared 61.5% compared to the previous financial year.

Monash IVF share price snapshot

The Monash IVF share price has soared around 42% in the past year but is flat this year to date.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned about 8% in the past 12 months.

Monash IVF has a market capitalisation of about $409 million based on its current share price.

Should you invest $1,000 in Monash IVF right now?

Before you consider Monash IVF, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Monash IVF wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Growth Shares

Why CSL shares are ‘going to deliver’ in 2022: fund manager

Quality growth companies can perform well even in an era of rising interest rates.

Read more »

a group of medical researchers stands side by side with each other wearing white coats in their research laboratory with scientific equipment in the background.
Healthcare Shares

Incannex share price pops 9% on FDA news

The medicinal cannabis drug development company came out with some positive developments from its FDA meeting...

Read more »

Two medical researchers in white coats collaborate over a computer screen of data in a medical research laboratory
Broker Notes

Where next for the CSL share price?

CSL shares could be heading higher according to one leading broker...

Read more »

A telehealth doctor at her desk.
Healthcare Shares

Why is the Ramsay share price smashing the ASX 200 on Monday?

Ramsay shares are off to a positive start today.

Read more »

a doctor in a white coat sits at her computer with finger on mouth thinking about something in her office with medical equipment in the background.
Healthcare Shares

What’s going on with the Polynovo share price today?

The strong start has dissipated for Polynovo shares.

Read more »

a doctor in a white coat sits at her computer with finger on mouth thinking about something in her office with medical equipment in the background.
Healthcare Shares

Virtus share price holds steady despite 30% earnings fall

Shareholders are staying loyal with a looming acquisition.

Read more »

a medical researcher rests his forehead on his fist with a dejected look on his face while sitting behind a scientific microscope with another researcher's hand on his shoulder as if giving comfort.
Earnings Results

Avita Medical share price tumbles 7% on declining Q1 revenue

The ASX healthcare share saw its net loss for the quarter increase 58% year-on-year.

Read more »

ASX share price movement represented by doctor pressing digitised screen with array of icons including one entitled health insurance
Healthcare Shares

Own Medibank shares? Here’s what to watch over the coming months

What are the key dates for Medibank in 2022?

Read more »