- Well Health Technologies (TSX: WELL) has been creating a buzz in the stock markets after some positive announcements.
- Stocks of Neighbourly Pharmacy also jumped by nearly four per cent on Thursday, January 20.
- Many investors are finding their way back to healthcare companies that can play a crucial role during a health crisis.
Well Health Technologies (TSX: WELL) has been creating a buzz in the stock markets after some positive announcements. Stocks of Neighbourly Pharmacy also jumped by nearly four per cent on Thursday, January 20.
The uncertainty around the coronavirus and its rapid spread has been haunting world economies for a while now. As a result, many investors are finding their way back to healthcare companies that can play a crucial role during a health crisis.
Let us look at Well Health Technologies and Neighbourly Pharmacy and see how they have been doing.
1. Well Health Technologies Corp (TSX: WELL)
Stocks of Well Health Technologies shot up by over 10 per cent on Thursday, after the healthcare firm providing business updates and improved revenue outlook for the fourth quarter of fiscal 2021.
The Vancouver-based company saw its annualized revenue run rate surpass C$ 450 million at the end of Q4 FY2021. In addition, it saw its operating adjusted EBITDA run rate reaching C$ 100 million in the same quarter.
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Well Health also saw its total omni-channel patient visits rise by 121 per cent year-over-year (YoY) during this quarter to 692,913. The virtual service segment also helped the company in revenue growth.
Well Health stocks closed at C$ 4.23 apiece on Thursday.
2. Neighbourly Pharmacy Inc (TSX: NBLY)
Neighbourly Pharmacy recorded a revenue of C$ 90.7 million in Q2 FY2022, which was up by 54 per cent YoY. The pharmacy company incurred a net loss of C$ 3.4 million in the latest quarter, but it denoted an improvement of 12.4 per cent YoY.
Neighbourly also recently inked an agreement (purchase price: C$ 21 million) to acquire five pharmacies across Western Canada.
The pharma firm’s scrip closed at a value of C$ 36.78 apiece on Thursday, having swelled by roughly 22 per cent in the last six months. It also clocked its 52-week high of C$ 40.07 on January 4, 2022.
The emergence of COVID-19 variant omicron has pulled investors’ focus back towards the healthcare sector amid rising expectations of newer treatments and booster shot campaigns.
However, when it comes to stock market investing, investors should ideally stay updated about latest developments in the sector and delve into various details of the company in question before investing.