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Tuesday, 26 November 2024

MVF - MONASH IVF GROUP LIMITED

Macquarie rates MVF as Outperform (1) - Macquarie notes total IVF cycles increased 9.4% year-on-year in October, with frozen cycles up 8.3% and fresh cycles rising 10.2% compared to the September 2023 quarter.

The broker highlights the inclusion of carrier screening in the Medicare Benefits Scheme from November 2023, with approximately 104,000 tests conducted to date. Monash IVF anticipates incremental growth in IVF volumes due to screening.

Macquarie expects Monash IVF to gain market share, supported by recent acquisitions and strong specialist recruitment efforts.

There are no changes to the analyst's earnings forecasts. The target price remains $1.50, with an Outperform rating retained.

Target price is $1.50 Current Price is $1.13 Difference: $0.37 If MVF meets the Macquarie target it will return approximately 33% (excluding dividends, fees and charges). Current consensus price target is $1.54, suggesting upside of 35.8%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY25:

Macquarie forecasts a full year FY25 dividend of 4.00 cents and EPS of 8.10 cents . At the last closing share price the estimated dividend yield is 3.54%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.95. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.1, implying annual growth of N/A. Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.0.

Forecast for FY26:

Macquarie forecasts a full year FY26 dividend of 5.00 cents and EPS of 8.80 cents . At the last closing share price the estimated dividend yield is 4.42%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.84. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.7, implying annual growth of 7.4%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 13.0.

Market Sentiment: 0.9All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources