$WELL.TO

Stifel Canada on Implications of CircleMedical Resolution For WELL Health

WELL Health Technologies (WELL.TO) reported last Friday that a billing investigation involving CircleMedical has been resolved with the North District of California for a US$3.3 million payment and "no admission of wrong doing", notes Stifel Canada.Analyst Justin Keywood, who is maintaining a buy rating and $8.25 price target on the shares of Well Health, says the resolution could preempt a sale for CircleMedical, which is estimated to be worth ~C$30 million to C$45 million in proceeds (WELL holds 71%). While a relatively small asset, a divestiture could act as a catalyst in highlighting WELL's pure-play pursuit and Canadian healthcare consolidation model, Keywood adds.WELL has publicly stated it intends to divest some or all of its U.S. assets, including CRH Medical, WISP and Circle Medical.CircleMedical is a primary care platform and tech-enabled medical practice, providing virtual care across 26 U.S. states and in-person care through physical facilities at 27 locations.Price: $4.57, Change: $+0.02, Percent Change: +0.44%

Well Health Technologies Price Target Raised to $6 at CIBC

CIBC Capital Markets raised its price target on Well Health Technologies (WELL.TO) to $6 from $5.50.Analyst Eric Kyle maintained an Outperformer rating on shares of the Vancouver-based digital health technology company."WELL announced the company has reached its $100 Million annualized adjusted EBITDA target for WELL Canada (Canadian clinics, WELLSTAR, and CYBERWELL) three quarters ahead of plan, in Q2/26 compared to Q1/27 expectations, driven by strong primary care organic growth and two accretive acquisitions," Kyle said in a note to clients."The company acquired an Ontario diagnostics imaging clinic and a Quebec procedural care clinic for $115 Million upfront, generating $22 Million of combined adjusted EBITDA, implying ~5x EBITDA on close," the analyst said."We expect management will increase 2026 guidance when WELL reports Q2 results in August."

WELL Health Technologies Q1 Adjusted Earnings, Revenue Beat Estimates

WELL Health Technologies (WELL.TO) Thursday after trade reported adjusted first-quarter earnings and revenue that both beat estimates.Adjusted net income, excluding most one-time items, more than doubled to $15.5 million, or $0.06 per share, from $7.5 million, or $0.03, in the prior year period. The result beat the consensus analyst estimate of $0.05 per share, according to FactSet.Revenues surged 25% to $368.3 million, beating the $366.98 million forecast. The increase was driven by organic growth, acquisitions and the inclusion of Healwell results in WELL's consolidated financial reporting, a statement said.Total patient visits rose 17% year-over-year to 1.9 million. At the end of the first quarter, WELL reported 253 clinics across Canada, including primary care, diagnostics, allied health, specialty and executive health clinics.WELL maintained its guidance for annual revenue of between $1.55 billion to $1.65 billion with adjusted EBITDA in the range of $175 million to $185 million."We are very pleased to report a strong start to 2026, with solid first quarter performance that saw our revenue run rate approach the $1.5 billion per year mark. Our Canadian clinics business continued to be a key driver of growth, achieving a revenue run rate of over half a billion dollars per year while delivering 30% year-over-year revenue growth, including 13% organic growth," said chief executive Hamed Shahbazi.Well Health shares closed up $0.03 to $4.37 on the Toronto Stock Exchange.

Earnings Flash (WELL.TO) WELL Health Reaffirms Prior Provided Guidance For Annual Revs Between $1.55B-$1.65B With Adjusted EBITDA In Range of $175M-$185M

Earnings Flash (WELL.TO) WELL Health Posts Q1 Adjusted EPS $0.06 per Share V $0.03 a Year Earlier

Stifel Canada Says Well Health's Q1 Patient Metrics Highlights "Strong" Growth Trends

Stifel Canada says Well Health Technologies' (WELL.TO) first-quarter patient metrics for its Canadian clinic network across primary/specialty care, highlight continued strong growth trends.Analyst Justin Keywood, who is maintaining a buy rating and a $8.00 price target on the shares, said the first-quarter report showed a 33% jump in patient visits, to 1.27 million from 957,000 in the prior year period.Each Well Health practitioner is now managing an average of ~80 more patients per quarter compared with two years ago, highlighting the company's model of heavy technology implementation, including AI tools, following M&A, Keywood adds."The above-average growth, should translate to operating leverage (+200bps Primary care margin expansion y/y to 8.0% in Q1/26; highest in two years) and +20% margins for specialty care," Keywood calculates. The metrics also demonstrate the value of the 250+ Canadian clinics network and scaling opportunity with only ~2% of the market consolidated (Well holds ~1.5%.)Price: $4.29, Change: $-0.08, Percent Change: -1.83%