Two Canadian healthtech stocks analysts like right now

Artificial intelligence is opening new opportunities in healthcare, and Bessemer Venture Partners argues that public markets have yet to fully recognize the sector’s potential.

As highlighted in U.S. News & World Report’s coverage of AI healthcare investing, Bessemer’s State of Health AI 2026 report makes a bullish case for a new generation of healthtech businesses. In its January analysis, the venture capital firm said healthtech stocks traded at a 10%–20% discount to cloud software counterparts despite competitive operating metrics.

Bessemer attributed part of that discount to lingering investor skepticism following the sector’s pandemic-era boom and bust. It argued that AI is creating opportunities to increase revenue, improve margins and make healthcare delivery more efficient, with sustained execution potentially narrowing the valuation gap.

For investors exploring Canadian stocks exposed to those themes, Cantech Letter’s analyst coverage highlights two names: WELL Health Technologies and HEALWELL AI. The recommendations below come from separate reports published in September 2026 and July 2025, respectively.

WELL Health Technologies

TD Cowen analyst David Kwan named WELL Health Technologies (WELL Health Technologies Stock Quote, Chart, News, Analysts, Financials TSX:WELL) a Canada Best Idea in September 2026, maintaining a “Buy” rating and $7.00 price target.

Kwan pointed to double-digit growth and margin expansion in WELL’s Canadian clinic operations and WELLSTAR healthcare technology business. He expected increased scale and AI-enabled efficiencies to support further margin improvement, alongside growth from acquisitions.

The analyst identified monetization of WELL’s U.S. businesses as a key catalyst. Selling those assets could simplify the company, fund Canadian clinic acquisitions, reduce leverage and potentially support share buybacks.

Although the divestitures had taken longer than anticipated, Kwan argued that a more focused Canadian healthcare business could command a higher valuation. His investment case combined operational improvements with the potential to unlock value through asset sales.

HEALWELL AI

HEALWELL AI (HEALWELL AI Stock Quote, Chart, News, Analysts, Financials TSX:AIDX) offers exposure to artificial intelligence used in preventative care and earlier disease detection.

In a July 16, 2025 update, Haywood Capital Markets analyst Gianluca Tucci maintained a “Buy” rating and $4.50 target, highlighting growth in the company’s core AI operations. That target reflects the recommendation at the time of publication.

Tucci pointed to Pentavere and Khure Health, which each recorded more than 100% first-half growth compared with the previous year. He said HEALWELL’s purchase of the remaining interest in Pentavere would support deeper integration and faster commercialization of its AI products.

Pentavere’s DARWEN platform identifies patients from clinical data, helping healthcare providers find people who could benefit from earlier intervention. Tucci also highlighted opportunities to combine those capabilities with the recently acquired Orion Health business.

The thesis centres on turning healthcare data into useful clinical insights while building a larger commercial platform for AI-powered care.

Disclosure: WELL Health is an annual sponsor of Cantech Letter. Nick Waddell owns shares of WELL Health and HEALWELL AI.