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.
