Motley Fool's take on WELL A top Canadian healthcare tech stock
Another shockingly cheap Canadian stock that could easily double your money or more in 2022 is WELL Health Technologies (TSX:WELL).
WELL Health owns a rapidly growing portfolio of high-quality telehealth businesses, digital health apps, a massive electronic medical records business, and its own physical healthcare clinics. The stock has fallen out of favour, though, in recent months and now trades incredibly undervalued, especially for a high-quality growth stock.
WELL Health trades at a forward enterprise value to sales ratio of just three times. That’s incredibly cheap, especially since the company has rapidly grown its sales over the last few years.
In 2020, WELL recorded total sales of roughly $50 million. Meanwhile, over the last 12 months, WELL Health’s sales have skyrocketed to more than $200 million. So, it’s not out of the question that as WELL has grown its sales and its stock has fallen by roughly 40% through 2021, it could be one of the best investments of the new year.
Currently, WELL Health trades at $4.91 a share. Meanwhile, the average target price for the Canadian stock is $11, meaning it has a tonne of potential to double your investment and more in 2022. So, if you’re looking for a high-potential growth stock that you can also buy cheap, WELL Health Technologies is one of the best stocks to consider.