2 Small Canadian Stocks Hitting New Highs Due to COVID-19

The Canadian stocks on our list have hit new 52-week highs recently on increased demand for their products or services

SmallCapPower | May 4, 2020: COVID-19 has negatively impacted most businesses, but some essential service providers have been thriving. Today we have filtered through and found two small Canadian stocks hitting new 52-week highs recently on increased demand for their products or services during this pandemic.

*Returns are based on closing stock prices as of May 1, 2020

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Centric Health Corporation (TSX:CHH) – $0.27
Centric Health is a provider of specialty pharmacy and other healthcare services to Canadian seniors, operating a large national network of pharmacy fulfilment centres that deliver high-volume solutions for the supply of chronic medication and other specialty clinical pharmacy services, serving more than 31,000 residents in over 460 seniors communities (long-term care, retirement homes, and assisted living facilities) nationally. CHH’s specialty pharmacy revenue for the fourth quarter of 2019 rose 7.9% to $32.2 million, while Adjusted EBITDA for the period surged 86.7% to $4.0 million. On March 24, 2020, Centric Health announced that it had agreed to acquire Remedy Holdings Inc. and the Remedy’sRx Specialty Pharmacy business, which generated revenue of approximately $60 million during Fiscal 2019.

  • Year-to-Date Return: 74%

WELL Health Technologies Corp. (TSX:WELL) – $2.20
WELL Health Technologies is leveraging disruptive trends in the health and wellness space by strategically pursuing a proven blueprint M&A strategy in order to maximize profitable growth in the space. Target acquisition companies will be across various vertical industries within the health and wellness space and will possess low capital requirements and high potential to exploit shifts in health trends. WELL Health is the third-largest digital Electronic Medical Records (EMR) supplier in Canada and is a provider of telehealth services. WELL owns and operates 21 healthcare clinics, provides digital EMR software and services to 1,446 clinics across Canada and is a majority owner of SleepWorks Medical. The Company’s revenue in 2019 more than tripled to $32,810,782 compared with 2018.

  • Year-to-Date Return: 41%

 

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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