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The Canadian market has navigated a turbulent August, with stocks rebounding strongly after a near 5% decline. This recovery has been supported by a growing economy and positive earnings trends. As attention shifts towards growth-oriented companies amidst easing monetary conditions, entities with substantial insider ownership are drawing interest. Here are three notable TSX growth companies with high insider ownership that are in focus this September.
Curaleaf Holdings (TSX:CURA)
Overview: Curaleaf Holdings, Inc. operates within the U.S. cannabis industry, boasting a market capitalization of CA$2.99 billion.
Operations: The company is involved in the cultivation, production, distribution, and sale of cannabis, generating annual revenue of $1.36 billion.
Insider Ownership: 19.9%
Despite recent shareholder dilution, Curaleaf Holdings is expected to achieve profitability within the next three years. The company has recently expanded its operations, opening new dispensaries in Florida and Ohio, which has increased its total locations to 150 across the United States. For Q2 2024, Curaleaf reported a net loss of US$48.89 million, although revenue rose to US$342.29 million year-over-year. Revenue growth is projected at 12.6% annually.
Savaria (TSX:SIS)
Overview: Savaria Corporation provides accessibility solutions for the elderly and physically challenged, with a market capitalization of CA$1.43 billion. The company operates across Canada, the United States, Europe, and other international markets.
Operations: Savaria's revenue streams include CA$183.98 million from Patient Care and CA$673.74 million from Segment Adjustments.
Insider Ownership: 19.6%
Savaria is currently trading at 60.1% below its estimated fair value and offers a reliable dividend yield of 2.59%. The company reported Q2 2024 sales of CA$221.34 million, an increase from CA$198.4 million in the previous year. Net income for the quarter rose to CA$10.96 million from CA$8.79 million a year ago. Earnings are projected to grow at an annual rate of 21.48% over the next three years, surpassing the average growth rate for the Canadian market.
Vitalhub (TSX:VHI)
Overview: Vitalhub Corp. delivers technology solutions for healthcare and human service providers, with operations spanning Canada, the United States, the United Kingdom, Australia, and Western Asia. The company has a market capitalization of CA$405.81 million.
Operations: Vitalhub generates CA$58.32 million in revenue from its healthcare software segment.
Insider Ownership: 15.1%
Vitalhub's revenue for Q2 2024 reached CA$16.24 million, up from CA$13.09 million in the previous year. Despite a net loss of CA$0.34 million this quarter, compared to net income last year, the company’s earnings are anticipated to grow significantly at an annual rate of 65.9% over the next three years. This growth forecast is well above the Canadian market average of 15.2%. The stock is trading 58.1% below its estimated fair value, with a projected price increase of 22.1%.
