- In New Zealand, COVID-19 cases expected to peak.
- Healthcare stocks in demand due to the surge.
- TruScreen stock up by 13% on announcements of distributor milestones.
New Zealand registered 23,183 new cases of COVID-19 today. Health authorities confirmed that a large number of those contracting the virus were below 30 years and only 14% were above 50 years of age.
While the Omicron variant is known to cause mild illness, a rapid increase in numbers is alarming and in the coming weeks, the cases are expected to peak.
However, Dr Ashley Bloomfield in his briefing this morning said that there were more than 100 community centers and 26 providers catering to the Pacific and Maori communities. Rapid Antigen Tests being carried out throughout the country provided plenty of opportunities to detect the virus early.
Against this backdrop, let’s examine how these four healthcare stocks are doing.
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PEB is a cancer diagnostics company that appointed Dr Peter Meintjes as the new CEO of the Company. He took over the office in January and has replaced David Darling, who announced his retirement in April last year. Dr Meintjes comes with experience in molecular diagnostics, particularly in the US market, and he would be of great value to the Company as it moves to the next stage of development.
In November, PEB reported that it had continued its strong growth momentum despite the impact of COVID-19. Its total revenue grew 66% to $6.7million and cash receipts from customers increased a whopping 110% to 5.4 million.
On 3 March, the stock was trading flat at NZ$0.950, at the time of writing.
TruScreen Limited (NZX:TRU)
TRU is a company that provides cancer screening solutions on a real-time basis. The stock moved by more than 13% on Thursday as the Company announced significant milestones with distributors. It announced that it had achieved National Pricing Approval in China. Distributors have been incentivised to boost sales by new options and appoint a new marketing and communication officer.
Earlier, the Company had announced that it had grown significantly in global markets, particularly in Vietnam, Russia, China, and Mexico. According to latest update, the company expects Mexico to grow as a strong market.
Bliss Technologies Limited (NZX:BLT)
BLT is a leading NZ-based provider of probiotic strains. It faced some challenges due to COVID-19-related disruptions. HY22 saw a revenue drop in the US markets but the BLIS Probiotics range saw a growth in revenue. The main highlight was the completion of its strategic partnership with Probi to grow its future revenue and research developments efforts.
On 3 March, the stock was trading up at NZ$0.047, at the time of writing.
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AFT Pharmaceuticals Limited (NZX:AFT)
AFT manufactures pharmaceutical products. In a newsletter released for its investors, the Company detailed its expectations for CY22. These included the commercialisation of Maxigesic pain relief medicines and planned growth in the Australasian portfolio.
Further, it reaffirms its guidance for an operating profit of NZ$18 million to NZ$23 million in FY22. This guidance reflects the impact of supply chain disruptions and a number of uncertainties due to the pandemic.
On 3 March, the stock was trading down by 2.03% at NZ$3.87, at the time of writing.
Bottom Line: Healthcare stocks have been generally performing well due to buoyancy in the healthcare sector. However, some stocks performed better than others.