- The Canadian healthcare sector has been in constant focus amid the pandemic.
- Following the rise of the omicron variant, investors seem to be closely monitoring its latest developments and focusing on healthcare stocks.
- A biotechnology stock mentioned here mounted by nearly 167 per cent year-to-date.
The Canadian healthcare sector has been in constant focus amid the pandemic. Following the rise of the omicron variant, investors seem to be closely monitoring its latest developments and focusing on healthcare stocks.
Keeping this in mind, let us look at the top Canadian healthcare stocks of 2021.
Image source:© 2021 Kalkine Media®
1. BELLUS Health Inc (TSX:BLU)
BELLUS Health Inc, which is engaged in the development of therapeutics to treat chronic cough and hypersensitization disorder, posted US$ 58.4 million in cash, cash equivalents and short-term investments in the third quarter of fiscal 2021.
The Laval-headquartered biopharmaceutical firm also reported positive outcomes from its Phase 2b SOOTHE trial for refractory chronic cough treatment.
BLU stock closed at C$ 10.1 apiece on Wednesday, December 24. The biotechnology stock mounted by about 167 per cent year-to-date (YTD).
2. Bausch Health Companies Inc (TSX:BHC)
Bausch Health Companies Inc recorded revenue of US$ 2.11 billion in the third quarter of FY2021.
In addition, the healthcare company launched its Biotrue® eye drops in the United States. It also got approval for its pipeline XIPERETM from the Food and Drug Administration (FDA).
BHC stock closed at C$ 35.9 apiece on December 24. The healthcare stock also expanded by 34 per cent YTD.
Also read: 5 best industrial stocks of 2021 in Canada
3. Andlauer Healthcare Group Inc (TSX:AND)
Andlauer Healthcare Group Inc generated revenue of C$ 104.2 million in the third quarter of FY 2021, 37.5 per cent up from Q3 2020.
The healthcare service company posted a year-over-year (YoY) rise of 41.8 per cent to C$ 12.2 million in the latest quarter.
AND stock closed at C$ 54.1 apiece on December 24. Its stock swelled by roughly 53 per cent in the past six months.
4. Medical Facilities Corporation (TSX:DR)
Medical Facilities Corporation saw its nine-month total revenue and other incomes surge by 5.5 per cent YoY in Q3 FY2021. Its total revenue and income were C$ 99 million in the latest quarter.
The Toronto-headquartered healthcare provider said it will pay a quarterly dividend of C$ 0.081 apiece on January 15 next year.
DR stock closed at C$ 9.03 per share on December 24 and gained over 24 per cent YTD.
5. Neighbourly Pharmacy Inc (TSX:NBLY)
Neighbourly Pharmacy Inc recorded second-quarter revenue of C$ 90.7 million in FY2022, a YoY surge of 54 per cent led by 51 new pharmacies.
On December 21, the Toronto-based company that operates a network of community pharmacies paid a quarterly dividend of C$ 0.045 per share.
NBLY stock closed at C$ 38.4 apiece on December 24. The pharmacy stock climbed by 45 per cent in six months.
The pandemic has drawn significant attention to the healthcare sector with all the major developments that have taken place in the fields of vaccine manufacturing and other COVID-related treatments in the last nearly two years.
Also read: 5 top Canadian retail stocks of 2021