Two ASX healthcare stocks that may witness significant revenue growth

5 min read | July 04, 2024 10:26 AM AEST | By Team Kalkine Media

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Two ASX healthcare stocks that may witness significant revenue growth — Image source: shutterstock.com

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Highlights

Monash IVF Group offers reproductive and fertility services across Australia, and Mesoblast develops allogeneic (off-the-shelf) cellular therapies for treating severe and life-threatening inflammatory conditions

In 1HFY24, MVF recorded 21.7% YoY surge in its revenue to AUD 125.7 million

MSB’s revenue dropped by 0.99% YoY to USD 3.38 million in 1HFY24

Monash IVF Group Limited (ASX:MVF) offers reproductive and fertility services across Australia. The company provides a range of specialised diagnostic services such as obstetric and gynecological ultrasounds, along with fertility treatments.

Mesoblast Limited (ASX:MSB) develops allogeneic (off-the-shelf) cellular therapies for treating severe and life-threatening inflammatory conditions.

Monash IVF Group Limited (ASX:MVF)

Highlights of MVF’s latest financial performance

During the first half of the financial year 2024 (1HFY24), the company achieved significant financial milestones. Revenue surged by 21.7% YoY to AUD 125.7 million, while reported net profit after tax (NPAT) increased by 19.4%YoY to AUD 12.9 million in 1HFY24. During the reported period, underlying EBITDA also saw a robust growth of 20% YoY, reaching AUD 32.2 million.

These impressive results were fueled by the company's expanded market presence and favorable industry trends. Notably, 1HFY24 marks the second consecutive half-year period where MVF has delivered revenue and underlying EBITDA growth of 20% or more.

Historical financial trend

Recent business update

Through an ASX update dated 4 March 2024, the company notified about the completion of the acquisition of Fertility North Holdings Pty Ltd. Fertility North offers fertility services to northern suburbs of Perth. With this development, the company marks its entry in the fast-growing Perth market.

Outlook

In FY24, the company anticipates achieving an underlying NPAT in the range of AUD 29-30 million, excluding contributions from the recently acquired entity, Fertility North. Moving into the second half of FY24, earnings and revenue growth are expected to be driven by several factors, including ongoing enhancements in the ultrasound business, initial contributions from new day hospital operations, the influence of the PIVET Medical Centre acquisition, and advancements in operations across South-East Asia.

Share performance of MVF

MVF shares closed 0.78% higher at AUD 1.290 apiece on 04 July 2024. With this, in the last one year, MVF’s share price has increased by almost 14.16%, and in the last three months, it has declined by 10.42%.

The 52-week high of MVF is AUD 1.53, recorded on 24 April 2024, and the 52-week low is AUD 1.105, recorded on 7 July 2024.

MVF Daily Technical Chart, Source: EODHD/Others

Mesoblast Limited (ASX:MSB)

Highlights of latest financial performance

In 1HFY24, revenue of the company fell by 0.99% YoY to USD 3.38 million and loss after tax decreased by 21.35% YoY to USD 32.53 million. The company is focused on obtaining approval for its lead-product candidate remestemcel-L in the treatment of pediatric and adult SR-aGvHD.

Historical financial trend

Outlook

The company seeks approval for its Ryoncil in the 2HFY24. Initially, the focus is on securing pediatric approval, with further plans for extension to the larger adult population. The company is progressing with cost containment strategies and tapping global-scale partnerships to fund clinical programs.

Share performance of MSB

MSB shares closed 8.25% higher at AUD 1.05 apiece on 04 July 2024. With this, in the last one year, MSB’s share price has dropped by almost 3.27%, and in the last six months, it has increased by 256%.

The 52-week high of MSB is AUD 1.35, recorded on 17 July 2023, and the 52-week low is AUD 0.255, recorded on 8 February 2024.

MSB Daily Technical Chart, Source: EODHD/Others

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 04 July 2024. The reference data in this report has been partly sourced from EODHD/Others.

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