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.
The post The Monash IVF (ASX:MVF) share price is gaining 6% today. Here’s why appeared first on The Motley Fool Australia.
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
More reading
- Why Allkem, Beacon Lighting, Northern Star, and Virtus Health shares are charging higher
- Newcrest (ASX:NCM) share price regains some shine as inflation worries mount
- Top broker tips Allkem (ASX:AKE) share price to shoot 20% higher
- What kinds of dividends will APA Group (ASX:APA) payout in 2022?
- Fans of Treasury Wine (ASX:TWE) shares might be surprised to learn of its NFTs
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.
from The Motley Fool Australia https://ift.tt/358Fmcn
Leave a Reply