3 Growth Stocks up Over 50% in 2022

Canadians on the hunt for growth stocks in should look to equities like Sierra-Wireless Inc. (TSX:SW)(NASDAQ:SWIR) and others today.

| More on:
potted green plant grows up in arrow shape

Image source: Getty Images

The S&P/TSX Composite Index climbed 360 points on Friday, September 9. Every sector finished the day in the black, with battery metals, health care, and information technology sectors emerging as the standouts. That said, investors have been forced to wrestle with volatility in the second half of 2022. Today, I want to look at three growth stocks that have bucked the trend and jumped over 50% in the year-to-date period. Let’s jump in.

This tech growth stock has erupted so far this year

Sierra Wireless (TSX:SW)(NASDAQ:SWIR) is a Vancouver-based company that provided device-to-cloud Internet-of-Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and Asia Pacific. Shares of this growth stock have increased 83% in 2022 as of close on September 9. The stock is up 102% in the year-over-year period.

This company released its second-quarter fiscal 2022 results on August 11. It reported revenue of $188 million — up 41% compared to the previous year. Sierra Wireless delivered revenue growth on the back of strong demand and the realization of investments in inventory. The company reported adjusted earnings from continuing operations of $16.7 million, or $0.43 per share — up from a loss of $1.1 million, or $0.03 per share, in the second quarter of 2021.

Shares of this growth stock are still trading in favourable value territory compared to its industry peers at the time of this writing. It is geared up for strong earnings growth in the years ahead.

Here’s a stock that has surged with the broader energy market

ARC Resources (TSX:ARX) is a Calgary-based company that is engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in Canada. Its shares have climbed 52% in 2022 as of close on September 9. The stock is up 86% in the year-over-year period.

Investors got to see the company’s second-quarter fiscal 2022 results on July 28. Canada’s energy sector has a strong start to 2022, as oil and gas prices were on fire to start the year. This company reported funds from operations (FFO) of $1.77 billion, or $2.59 per share, in the first six months of 2022 — up from $816 million, or $1.51 per share, for the same stretch in fiscal 2021.

This growth stock last had a very attractive price-to-earnings ratio of 8.7. Meanwhile, it offers a quarterly dividend of $0.12 per share. That represents a 2.6% yield.

I’m targeting growth stocks in the healthcare space in 2022

BELLUS Health (TSX:BLU)(NASDAQ:BLU) is the third growth stock I’d look to snatch up as we approach the middle of September. This Laval-based company is a clinical stage biopharmaceutical. It develops therapeutics for the treatment of refractory chronic chough (RCC) and other cough hypersensitivity indications. Its shares have jumped 56% so far in 2022.

The biopharmaceutical company unveiled its second-quarter 2022 earnings on August 10. Its net loss grew to $18.8 million compared to $17.8 million in the prior year. BELLUS has continued to invest heavily in research and development. As always, clinical-stage growth stocks are high-risk, high-reward plays for investors.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

More on Investing

tsx today
Energy Stocks

TSX Today: What to Watch for in Stocks on Thursday, December 7

An early morning recovery in commodity prices could lift the main TSX index at the open today.

Read more »

Aircraft wing plane

Prediction: Air Canada Stock Will Sit on the Runway for a While

Will Air Canada stock be able to continue to ride post-pandemic tailwinds, or is this stock pricing in an upcoming…

Read more »

Businessman holding AI cloud
Tech Stocks

Artificial Intelligence, Real Returns: Profiting From the AI Revolution

Tech companies like Shopify Inc (TSX:SHOP) are profiting from the AI revolution.

Read more »

Paper airplanes flying on blue sky with form of growing graph

Are Airline Stocks a Good Buy in December 2023?

Airline stocks are cyclical. So, interested investors should aim to buy low and sell high to target price appreciation.

Read more »

little girl in pilot costume playing and dreaming of flying over the sky
Stocks for Beginners

TFSA Investors: 3 Steps to Get Into Cross-Border Investing

Overseas trading can be scary. But if you follow these steps, you can certainly achieve far higher returns than just…

Read more »

Dividend Stocks

2 Top Telecommunication Stocks to Buy on the TSX Today

Two telco stocks, but not the dominant industry players, are buying opportunities on the TSX today.

Read more »

Business man on stock market financial trade indicator background.

Better Buy: Canadian Bank Stocks or Fintech Stocks?

Bank stocks like Bank of Nova Scotia (TSX:BNS) are often cheaper than fintech stocks.

Read more »

worry concern
Dividend Stocks

Is Now Actually the Right Time to Buy BCE Stock?

Looking for a great stock to buy at a serious discount? It’s the right time to buy BCE (TSX:BCE) stock…

Read more »