Virtus share price up again

Virtus's rising share price means it's time for a downgrade.

IVF provider Virtus Health's share price is up 17% since Australia's 9,000 missing babies from 6 Apr 16 (Buy – $6.22) and has risen 60% since August last year. The stock now sports a price-earnings ratio of 17 based on 2016 estimates, and a dividend yield of 3.8%. Virtus has plenty of free cash flow and decent growth prospects, but having moved above our recommended Buy price, we're downgrading to HOLD.

Note: The Intelligent Investor Growth Portfolio and Equity Income Portfolio own shares in Virtus Health. You can find out about investing directly in Intelligent Investor and InvestSMART portfolios by clicking here.

Disclosure: The author owns shares in Virtus Health.