There’s no doubt that one of the highest-potential growth stocks on the TSX heading into 2026 continues to be WELL Health Technologies (TSX:WELL).
WELL has been an impressive growth stock for years now, dating back to the pandemic when it emerged as one of the best telehealth and digital health stocks on the market.
For many investors who have followed WELL over the past few years, though, trying to decide what to do as we head into 2026 can understandably be frustrating.
The company seems to continue posting strong numbers, growing its clinics, and improving its operations, but the share price has basically been flat at best. In fact, the stock has actually been trending lower most of the year.
What makes WELL such a confusing stock right now is that the business itself seems to be performing well.
For example, it posted record revenue in its most recent quarter, record adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and its core Canadian clinic segment continues to see more visits, more practitioners, and more demand. Management even reaffirmed its full-year revenue guidance, and the six analysts who cover the stock all rate it a buy. Yet the stock is still down roughly 45% from earlier highs in 2025.
So, naturally its understandable for investors to wonder whether to buy, sell, or hold WELL Health stock as we head into 2026.
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Is WELL Health a reliable stock?
Before we even assess WELL’s long-term potential, the first thing to ensure is that the stock is high enough quality that we can have the confidence to buy and hold for the long haul. In WELL’s case, we do.
The first thing that should give investors confidence about owning WELL for the long haul is that it operates in one of the most important and most defensive industries there is, health care. Health care is incredibly defensive, especially in Canada, where it’s subsidized and WELL is now focusing on expanding in the future.
Furthermore, even though WELL has proven it can make value accretive acquisitions and it can generate reliable and consistent profits on its sales, it continues to sell off non-core telehealth and digital health app businesses, to focus more on expanding its footprint of outpatient clinics across Canada.
This not only helps to simplify the operations and make its revenue more predictable but it also gives WELL a clear path to scale its costs and rapidly improve it profitability, especially as it grows its sales.
Therefore, because WELL is not just a growth stock with a ton of potential, but a high-quality company you can have confidence owning for the long haul, there’s no reason to sell this owner/operator of outpatient clinics today. The question becomes, should you buy or hold WELL in 2026?
Why this growth stock is one of the best to buy for 2026
Whether you should buy or hold WELL Health in 2026 will depend a lot on your portfolio and how much exposure you already have. If you’ve yet to own WELL, though, or you’re underexposed, there’s no doubt it’s one of the best growth stocks to buy in 2026 for several reasons.
First, the healthtech has proven for years how quickly and efficiently it can grow. However, it doesn’t only have short-term growth potential in the coming year; WELL has the potential to continue expanding its operations for years to come. So while you can buy the high-quality growth stock with a market cap of less than $1 billion, it’s a substantial opportunity.
In addition to its potential, though, WELL is also one of the most undervalued stocks on the TSX. It’s not just its share price that’s low. For example, right now WELL trades at a forward price-to-earnings (P/E) ratio of just 12.1 times.
That’s unbelievably cheap for a high-quality growth stock and it’s even lower than its three-year average forward P/E ratio of 14.7 times, showing WELL is trading about as cheap as it has ever been since it became profitable.
So, if you’re looking for a high-quality growth stock to buy in 2026 and hold for years to come, WELL is one of the best to consider, and its average analyst target price sits at a more than 90% premium to where it’s trading today.
