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Highlights
- China might be battling a COVID resurgence, which may cause some investors to look for quality healthcare stocks
- Knight Therapeutics Inc (TSX:GUD) and Titan Medical Inc (TSX:TMD), on Thursday, March 24, released their fourth-quarter and full-year results for fiscal 2021
- Titan Medical expanded its portfolio to over 200 patents and applications in 2021
China might be battling a COVID resurgence, which may cause some investors to look for quality healthcare stocks.
Knight Therapeutics Inc (TSX:GUD) and Titan Medical Inc (TSX:TMD), on Thursday, March 24, released their fourth-quarter and full-year results for fiscal 2021.
Let us look at these two TSX healthcare stocks and their overall performance.
Knight Therapeutics Inc (TSX:GUD)
Knight Therapeutics increased its revenue to C$ 58.27 million in Q4 FY2021 compared to C$ 55.19 million a year ago. Meanwhile, the drug manufacturer saw its 2021 revenue reach C$ 243.47 million, up from C$ 199.51 million in 2020.
The small-cap company incurred a net loss of C$ 8.3 million in the latest quarter compared to a profit of C$ 8.23 million in Q4 2020. Its yearly net profit shrank to C$ 15.67 million in 2021, down from C$ 31.76 million.
The GUD stock closed at C$ 5.22 apiece on Thursday, March 24, down by over six per cent. The healthcare stock jumped by nearly five per cent in the last 12 months.
Also read: MDRN & NVAX: 2 COVID stocks as Canada plans to scrap pre-arrival test
Titan Medical Inc (TSX:TMD)
Titan Medical, a medical device firm engaged in developing surgical technologies, reported C$ 32.3 million in cash and cash equivalents as of December 31, 2021, up from C$ 25.5 million recorded a year ago. The medical instrument maker expanded its portfolio to over 200 patents and applications in 2021.
The TMD stock increased by almost six per cent week-to-date (WTD) and closed at C$ 0.73 apiece on Thursday.
Also read: Boyd Group (BYD) stock spikes 12% after Q4 sales growth. A buy?
Bottom line
Some medical stocks might help diversify an investment portfolio and provide exposure to new changes and developments in the healthcare industry. However, investors should make investment calls based on their market knowledge and interests keeping in mind the company’s financials and prospects.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
