The company appears to be benefiting from Victoria lifting a ban on IVF treatments.
The post The Monash IVF (ASX:MVF) share price is gaining 6% today. Here’s why appeared first on The Motley Fool Australia. –
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.
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.
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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.