Opinions
Mike Vinokur
dentalcorp Holdings Ltd
DNTL-T
TOP PICK
Jun 09, 2025
$8.610
Stock price when the opinion was issued
Healthcare
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WEAK BUY
Over time, expects it to be acquired by a big US player. Has been quite diligent not overpaying for acquisitions. Difficult to buy as many practices as they'd like. Pretty well run. Margins can increase step by step over time. Doesn't expect any big transformational news. Leverage is too elevated for his liking. Stable, predictable business.
Healthcare
BUY
Now has ~3-4% market share in Canada. Lots of opportunity to expand, as Canadian market is more fragmented than, say, the US. Entirely domestic, not exposed to tariffs. Essential service, most patients have insurance. Market didn't love its equity issue; stock's down 20%, so he's been adding. Good insider ownership.
Healthcare
It owns 570 dental practices and there are 15 000 in Canada. They are looking at how many they want to deal with and acquire, about 150. It should grow organically through cash flow and cost control. It is easily the largest dental practice company in Canada and has initiated a new dividend with a good increase in cash flows. They have debt from acquiring practices and lower interest rates would be good for that debt. Buy 10 Hold 0 Sell 0
(Analysts’ price target is $12.73)