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Summary
- Stocks of Profound and Bausch have outperformed the S&P/TSX Capped Health Care Index in terms of returns in the last one month.
- Bausch anticipated generating a revenue of more than C$ 2.2 billion in the fourth quarter of 2020.
- Profound estimated the total revenue for Q4 2020 to be almost C$ 3.7 million, an increase of 32 per year-over-year.
The S&P/TSX Capped Health Care Index has donned as much as 25 per cent in the last one month, led primarily by cannabis stocks. But mainstream healthcare stocks such as Bausch Health and Profound Medical (TSX:PRN) are making a buzz amid this healthcare rally. Let’s delve into these stocks further:
Bausch Health Companies Inc. (TSX:BHC)
Current BHC Stock Price: C$ 33.34
The Quebec-based pharmaceutical firm’s scrips have swelled nearly 26 per cent in the last one month. The stock ranks among TMX’s top price performer and top healthcare companies that have outperformed the market (TSX and TSXV) with largest price gains in the last 30 days.
The stock’s price-to-cashflow (P/CF) ratio is 9.60, and its present price-to-book (P/B) ratio is 15.682, as per the TMX data. The drug maker has a current market cap of around C$ 11.75 billion.
In the fourth quarter of 2020, the company projected revenue of more than C$ 2.2 billion. For the entire financial year 2020, Bausch excepts to surpass its latest revenue guidance of C$ 8.00 billion.
Profound Medical Corp. (TSX:PRN)
Current PRN Stock Price: C$ 30.74
The stock of medical technology company has rocketed by 49 per cent in the last one month. The company’s shares have gained nearly 87 per cent in one year. Thus, the healthcare stock has been placed among TMX’s top price and healthcare performers.
Profound’s price-to-book ratio is 4.888, and a debt-to-equity ratio of 0.02. Its present market cap is 608 million, as per TMX data.
Profound forecasts total revenues for the fourth quarter of 2020 to be nearly C$ 3.7 million, a 32 per cent rise year-over-year (YOY) and 24 per cent quarter-over-quarter (QoQ). For the financial year 2020, Profound foresees total revenues to be around C$ 9.7 million against C$ 5.5 million in 2019.