- Wealth Health Technologies (WELL) is a fast-growing telehealth company.
- It operates in the United States and Canada and experiences massive revenue growth.
- Recently, the company released various ESG commitments that would likely ensure shareholder benefits.
Well Health Technologies has outshined other companies within the telehealth sector. While rivals such as Hims & Hers, Teladoc, and Doximity endured massive hits, the WELL stock performed significantly better due to its impressive acquisitions.
Wealth Health Continues to Grow
Well Health Technologies offers outpatient and telehealth services in the United States and Canada. Moreover, the company has enjoyed impressive growth since its 2010 launch, becoming the top player in the health sector. It has grown via acquisitions and organically.
For example, Well purchased INLIV in June. INLIV is primary care, corporate healthcare, and consumer preventative omnichannel provider. It paid more than $1.6 million to complete the buy.
Though the Well Health stock plummeted in 2022, the latest outcomes indicate the company is performing well. The past year saw its revenue surging to $302 million, higher than the previous year at $50.2 million. Also, its virtual services return climbed to $75.6 million, indicating a 460% yearly growth.
Should You Buy WELL?
Analysts believe Well health with witness the same or better performance in 2022. That’s because the company boasts a presence in primary care and outpatient, unlike Teladoc, which concentrates on telehealth. Moreover, Well’s latest acquisitions will bolster its growth.
Furthermore, the firm is accelerating the ESG credentials, which is crucial in drawing increased demand from ESG funds. Another catalyst is the management’s aim to ensure impressive returns after spending the last couple of years on acquisitions.
WELL Share Price Prediction
The current downturn in the equities market will offer an opportunity to buy stocks at discounts. WELL might be among the lucrative stocks to buy during ongoing uncertainty. The chart shows the shares maintained massive bearish biases within the last couple of months.
WELL shares plunged beneath the crucial support of $3.77, January’s lowest mark. The stock remains beneath the 25 and 50 MA, whereas the Relative Strength Index stood at the 50-neutral. Thus, the share will likely rebound within the upcoming months as traders try to retest the crucial $5 resistance.