MVF: Growing market share in a growing market

Monash IVF (ASX:MVF) provides assisted reproductive services (ARS) and associated services such as ultrasounds and genetic testing. It has 23 ARS clinics across Australia and four service centres. There are 15 ultrasound clinics and two genetics laboratories. Monash has grown to now account for 21% market share for stimulated cycles in Australia and 20% market share for frozen embryos.
Monash was included in the inaugural NAPS ANZ portfolio which commenced on 1 Jan 2023. When the portfolio was reset on 1 Jan 2024, Monash was retained as it was still one of the top two healthcare stocks. There was however a partial sell down to reweight the portfolio to equal weightings. It has been the third best performer since the portfolio commenced with an annualised return of 49.2%.

The StockRank has advanced 5 points to 90 since the release of the half year results on 23 February. This is primarily due to the improvement in the Value score. The price has increased 3%, so the change in the Value score is due to improvements in the underlying fundamentals, not a declining price. Earnings per share (EPS) have increased, therefore...