WELL is now my largest holding and I added a few more on this morning's weakness. GLTA
Raymond James’ Michael Freeman initiated coverage of Well Health Technologies Corp. with an “outperform” recommendation and $8.50 target. The average is $7.96.
“In our view, WELL has become the center of gravity in Canada’s primary healthcare and digital health ecosystem, and is a rapidly ascendant power in U.S. hybrid care, growing by way of disciplined, accretive M&A — approximately 50 acquisitions executed since inception — and strong organic growth, posting 19 per cent year-over-year in FY22,” he said. “And, while WELL’s U.S. presence is a newer part of its story, it’s no less important: WELL drove nearly 60 per cent of its FY22 total Rev. from its U.S. businesses in primary, specialty, and virtual care (up 100 per cent year-over-year).
“WELL leverages its large, growing footprint of physical clinics, combined with its increasingly broad and interconnected suite of digital tools to empower healthcare practitioners and patients, looking to improve health outcomes and yield efficiencies in overstressed healthcare markets often fraught with long wait-times and outdated tech. WELL’s two broad operating categories — omni-channel patient services (‘bricks and clicks’) and virtual services (‘clicks only’)—are core to the company’s hybrid approach to healthcare, enabling WELL to leverage cross-platform operational and technological synergies, and situating the company nicely to take advantage of structural and capital markets-oriented tailwinds.”