How to Buy Neighbourly Pharmacy Stock in Canada [2024]

Summary: If you’re looking to invest in the Canadian healthcare sector, Neighbourly Pharmacy Inc. (TSX: NBLY) might be a stock to consider. As the country’s largest and fastest-growing network of independent pharmacies, Neighbourly Pharmacy is well-positioned to benefit from the expanding demand for health services in the country. To buy Neighbourly Pharmacy stock, Canadian residents can register at an online exchange platform such as Interactive Brokers.

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About Neighbourly Pharmacy

Neighbourly Pharmacy (TSX: NBLY) is the largest and fastest-growing network of independent pharmacies in Canada. It operates under a diversified national footprint, offering various services in community healthcare. 

One of the factors contributing to Neighbourly Pharmacy’s success is its focus on community pharmacies. That is, it prioritizes customer service and offers personalized healthcare solutions for its clients. By catering to the needs of the local community, it manages to establish trust and build a loyal customer base, which translates into long-term stability and growth opportunities.

The Neighbourly Pharmacy strategy also involves the expansion of independent pharmacies throughout Canada. This helps the company reach a wider audience and accommodate the needs of various demographic groups, ensuring their healthcare services are accessible to as many people as possible and boosting client sentiment. Moreover, their vast network of pharmacies allows them to be agile and adapt to changing market trends, which can be advantageous to your investments.

How to buy Neighbourly Pharmacy stock: Step-by-step process 

Neighbourly Pharmacy trades under the ticker symbol NBLY on the Toronto Stock Exchange (TSX) and has shown a 52-week range of C$14.56 to C$25.50 in its stock price as of August 2023, meaning there’s potential for growth as well as fluctuations.

Step 1: Choosing a Broker

To buy Neighbourly Pharmacy stock, you’ll need to have a brokerage account that allows you to trade on the Toronto Stock Exchange (TSX). When choosing a brokerage, consider factors such as:

• Fees;
• Commissions;
• trading tools;
• Customer support.

Our recommended broker is Interactive Brokers, a platform featuring:

• Commission-free stock trading;
• Global stock-trading on 90+ market centers;
• Fractional shares;
• Additional income on fully paid shares;
• Lowest financing rates for margin accounts;
• No account minimums.

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started

Step 2: Opening a trading account

To start buying stocks, you’ll need to open a trading account with your broker of choice. The process is often quick, but you’ll have to supply personal information, verify your identity, and link your account to some payment method, like a bank card. 

Step 3: Funding your account

Once you’ve opened your account, you can transfer funds from your bank account to your brokerage account. Note that some platforms might have a minimum deposit requirement, so make sure you’re familiar with any currency conversion fees.

Step 4: Placing an order

When you deposit your funds, you can buy NBLY stock by following five simple steps:

1. Search for the NBLY stock on your broker’s website;

2. Check the stock price and other financial data to ensure you’re making a well-informed decision;

3. Select an order type, usually one of following two:

• Market order — Executed at the current market price;
• Limit order — Executed only when the stock hits a specified price;

4. Decide how many shares you want to buy based on financial status and needs;

5. Double-check your order details and submit it.

Neighbourly Pharmacy stock price

Why invest in Neighbourly Pharmacy

As an investor, you might find Neighbourly Pharmacy an attractive growth stock to add to your portfolio. The company is in the healthcare delivery sector and is focused on consolidating the pharmaceutical business in rural areas, which can provide good growth opportunities and allow you to diversify your portfolio with a solid asset.

Apart from its core pharmaceutical services, Neighbourly Pharmacy also works on boosting its front-store sales. With an expanding scope of work, pharmacists are providing more services that help drive growth for the company. In the last couple of years, for example, it acquired 20 pharmacies in Alberta and 100 Rubicon pharmacies in Western Canada.

In recent months, financial results for Neighbourly Pharmacy have been positive as well, inspiring confidence among investors and analysts and indicating a potential upside in the stock that could benefit your investment over time.

Disclaimer: TradingView does not recommend trading financial instruments based exclusively on the advice of the Technical Rating indicator. These recommendations cannot predict future movements and are meant as assistance for spotting potentially favorable buy/sell conditions if this is consistent with their strategy.

Future prospects

Neighbourly Pharmacy is focused on expanding its business by acquiring new pharmacies and increasing its market share in the Canadian pharmacy sector.

A key aspect of their business strategy is to grow through acquisitions. Last year, Neighbourly Pharmacy completed its acquisition of Rubicon Pharmacies, which has significantly increased its revenues and number of locations. This move showcases their commitment to pursuing growth opportunities and enhancing their market presence.

In addition, by maintaining a robust balance sheet and generating consistent cash flow from operations, the company aims to provide value to its shareholders and enable further business expansions.

How to buy Neighbourly Pharmacy stock: Some considerations

To stay prepared, you must monitor your investment and do your own research to ensure the stock aligns with your investment goals.

Another risk to consider involves the broader market and industry trends. Neighbourly Pharmacy operates in the healthcare sector, which can be impacted by regulatory changes, technological advancements, and fluctuations in consumer demand.

Finally, remember that investing in individual stocks can come with its own set of risks, such as underperformance or market volatility. To mitigate these risks, consider incorporating other investment options, such as mutual funds or exchange-traded funds (ETFs), which can help diversify your portfolio and spread your risk across multiple securities.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Neighbourly Pharmacy stock

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started