AUS
NZ
UK
CA
USA
IND
Source:S_L, Shutterstock
Summary
- In 2021, healthcare stocks is likely to take the centre stage.
- When the pandemic broke last year, some medical stocks did well as the healthcare sector was under the spotlight.
- If you’re looking to invest in healthcare stocks, you might explore these two TSX stocks.
The COVID-19 pandemic caused the market volatility, but it also brought few healthcare stocks under the spotlight. Despite the rollout of vaccines, the world is still struggling to fight the pandemic and as we enter into the third wave of the pandemic, a few healthcare stocks might take the centre stage this year as well.
If you're looking to diversify your portfolio and invest in healthcare stocks, here are two stocks you might consider exploring:
Viemed Healthcare Inc. (TSX:VMD)
Canadian Prime Minister Justin Trudeau said on April 7 that along with the world, Canada is also facing a very serious third wave of the coronavirus pandemic. Reports suggest that in the past week, the country reported 5,200 new coronavirus cases per day. Canada has recorded a total of more than one million cases and 23,000 people lost their lives.
Amidst the rising cases, the stock of Viemed Healthcare (TSX:VMD), which specialises in providing home respiratory medical equipment might perform well in the equity market. During the first wave of the pandemic, the stock of this company saw a major surge. It had its up and downs in the market and stumbled in March 2021. However, it is again on the rise, and may grow this year.
Source: Pixabay
The stock grew 79.2 per cent in a year and 29.1 per cent year-to-date (YTD). At market close on April 7, it was trading at C$ 12.96 apiece, available at about 20 per cent down from its 52-week high of C$16.19.
The company posted record numbers in Q4 2020, the revenue was US$ 31.2 million, an increase of 45.5 per cent from Q4 2019. For the same period, the net income was US$ 5 million, up by 112 per cent.
Greenbrook TMS Inc. (TSX:GTMS)
With over 125 company-operated treatment centres, Greenbrook offers solutions for depression and mental health disorders in the US and Canada. The COVID-19 pandemic impacted people’s mental health, and as the coronavirus cases continue to rise, chances are high that people might once again face turbulent times.
During the peak pandemic period, number of Canadians with excellent or very good mental health fell to 55 per cent in July 2020, according to a Statistics Canada report. In 2019, the figure was 68 per cent.
This stock could be worth exploring as it skyrocketed by about 838 per cent in a year and 558.7 per cent YTD.
In 2020, the company achieved record revenue of US$ 43.1 million, an increase of 21 per cent year-over-year.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
