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- 1 The COVID-19 pandemic instantly boosted the value and demand for the healthcare industry.
- 2 Healthcare is one of the essential sectors that is fairly recession-proof and is ready to vitalize Canada’s economy.
In a time of recession, it is hard to find the right stock offering more profits and less risk. Thanks to Healthcare, a recession-proof sector that is essential in both the good and good times. If the market is down, Canadian healthcare stocks could be a good choice to make.
Let’s take a deep dive into the top 5 Canadian healthcare stocks.
Harvest Healthcare Leaders (HHL)
The Harvest Healthcare Leaders (HHL) Income ETF includes innovative leaders in the vital healthcare industry. This includes US healthcare companies in biotech, life sciences, and healthcare supplies & services to combine innovation with consistent demand. It has a current 9.03% yield with diversified exposure to 20 large capitalization global healthcare stocks, can provide monthly income from capital appreciation, and has a covered call strategy to enhance portfolio income potential and lower portfolio volatility.
WELL Health Technologies (WELL)
Another powerful name rising in the list is WELL Health Technologies, established in 2010. The company is fully engaged in owning and operating primary healthcare facilities and generating revenues of 569.136 Million CAD. The WELL stock price at current is 4.33 CAD, an upsurge of 1.17% in the past 24 hours with a market cap of 1.031 Billion CAD, making it a strong buy as per an aggregate view of professional’s ranking.
Baush Health Companies Inc. (BHC)
Currently, BHC stock price holds 11.23 CAD, an upsurge of 2.56% in the past 24 hours with a market cap of 4.087 Billion CAD, making it a good stock to invest in. The company was introduced in 1994 and is fully engaged in the development and distribution of medical devices. Focusing on the financial performance, the annual revenue of BHC is 11.013 Billion CAD and is expected to reach more heights, making it a good healthcare stock to trade with.
Extendicare Inc. (EXE)
Another popular Canadian healthcare stock is Extendicare Inc. (EXE) with an annual revenue of 1.222 Billion CAD. The company is heavily engaged in nursing, home healthcare, and management and consulting services. EXE stock price stands at 6.54 CAD, experiencing an incline of 1.87% in the past 24% with a market cap of 551.185 Million CAD. With a TTM of 16050, the stock is expected to reach new heights soon, ready to boom the healthcare sector.
Dentalcorp Holdings Ltd. (DNTL)
Dentalcorp Holdings Ltd is another stock to consider for heavy profits in the near future. The company was introduced in 2011 and is fully engaged in dental services. With an annual revenue of 1.25 Billion CAD, DNTL stock price is standing at 6.64 CAD with a market cap of 1.247 Billion CAD. The stock is rapidly flourishing making it a strong buy as per an aggregate view of professional ratings.
Conclusion
Canada’s healthcare industry is flourishing rapidly, making it a good option to invest in for heavy returns in the near future. Dentalcorp Holdings Ltd., Baush Health Companies Inc., Andauer Healthcare Group, Extendicare Inc., and WELL Health Technologies are some good stocks for investment at present.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
