(HQH) Tekla Healthcare Investors - Overview
Stock: Biotech, Medical Devices, Pharma, Growth
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 12.92% |
| Yield on Cost 5y | 14.36% |
| Yield CAGR 5y | 1.79% |
| Payout Consistency | 71.3% |
| Payout Ratio | 139.1% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.8% |
| Relative Tail Risk | 1.68% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.77 |
| Alpha | 8.48 |
| Character TTM | |
|---|---|
| Beta | 0.615 |
| Beta Downside | 0.565 |
| Drawdowns 3y | |
|---|---|
| Max DD | 21.14% |
| CAGR/Max DD | 0.65 |
Description: HQH Tekla Healthcare Investors January 26, 2026
Abrdn Healthcare Investors (NYSE: HQH) is a closed-ended equity fund launched in 1986 that targets global public-equity exposure to the healthcare sector, with a focus on small-cap growth stocks in biotechnology, medical devices, and pharmaceuticals. The portfolio is constructed through fundamental analysis emphasizing market positioning, management quality, technological expertise, and capital-raising ability, and it is benchmarked against the NASDAQ Biotechnology Index, the S&P 500, and the S&P 1500 Healthcare Index.
As of the most recent filing (Q2 2024), HQH reported a net asset value (NAV) of $12.84 per share and an expense ratio of 1.45 %, which is modest relative to peer closed-ended biotech funds averaging 1.68 %. The fund’s 12-month total return was +9.3 %, underperforming the NASDAQ Biotechnology Index (+12.1 %) but outpacing the broader S&P 500 (+7.5 %). Key sector drivers remain strong: U.S. biotech R&D spending grew 6.2 % YoY to $94 billion in 2023, and the FDA’s accelerated approval pathway has added 15 new therapies in the past year, supporting continued pipeline valuation upside for small-cap innovators.
For a deeper quantitative assessment of HQH’s risk-adjusted performance and its alignment with your portfolio objectives, you may find ValueRay’s analytic dashboard useful.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 320.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.79 > 1.0 |
| NWC/Revenue: 7.42% < 20% (prev -0.53%; Δ 7.95% < -1%) |
| CFO/TA 0.01 > 3% & CFO 8.72m > Net Income 320.0m |
| Net Debt (-59.0) to EBITDA (99.7m): -0.00 < 3 |
| Current Ratio: 2.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (55.5m) vs 12m ago 9.65% < -2% |
| Gross Margin: 72.71% > 18% (prev 0.90%; Δ 7181 % > 0.5%) |
| Asset Turnover: 1.79% > 50% (prev 10.98%; Δ -9.18% > 0%) |
| Interest Coverage Ratio: -0.45 > 6 (EBITDA TTM 99.7m / Interest Expense TTM -220.4m) |
Altman Z'' 10.00
| A: 0.00 (Total Current Assets 2.61m - Total Current Liabilities 1.21m) / Total Assets 1.10b |
| B: 0.09 (Retained Earnings 101.6m / Total Assets 1.10b) |
| C: 0.09 (EBIT TTM 99.7m / Avg Total Assets 1.05b) |
| D: 29.63 (Book Value of Equity 101.6m / Total Liabilities 3.43m) |
| Altman-Z'' Score: 32.05 = AAA |
What is the price of HQH shares?
Over the past week, the price has changed by +0.73%, over one month by +1.05%, over three months by +10.76% and over the past year by +20.41%.
Is HQH a buy, sell or hold?
What are the forecasts/targets for the HQH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 22.5 | 17.1% |
HQH Fundamental Data Overview February 03, 2026
P/S = 140.7403
P/B = 0.9723
Revenue TTM = 18.9m USD
EBIT TTM = 99.7m USD
EBITDA TTM = 99.7m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = -59.0 USD (from netDebt column, last fiscal year)
Enterprise Value = 1.06b USD (1.06b + (null Debt) - CCE 59.0)
Interest Coverage Ratio = -0.45 (Ebit TTM 99.7m / Interest Expense TTM -220.4m)
EV/FCF = 121.6x (Enterprise Value 1.06b / FCF TTM 8.72m)
FCF Yield = 0.82% (FCF TTM 8.72m / Enterprise Value 1.06b)
FCF Margin = 46.15% (FCF TTM 8.72m / Revenue TTM 18.9m)
Net Margin = 1695 % (Net Income TTM 320.0m / Revenue TTM 18.9m)
Gross Margin = 72.71% ((Revenue TTM 18.9m - Cost of Revenue TTM 5.15m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.97 (Enterprise Value 1.06b / Total Assets 1.10b)
Interest Expense / Debt = unknown (Interest Expense 48.2m / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 78.7m (EBIT 99.7m * (1 - 21.00%))
Current Ratio = 2.15 (Total Current Assets 2.61m / Total Current Liabilities 1.21m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = -0.00 (Net Debt -59.0 / EBITDA 99.7m)
Debt / FCF = -0.00 (Net Debt -59.0 / FCF TTM 8.72m)
Total Stockholder Equity = 1.04b (last 4 quarters mean from totalStockholderEquity)
RoA = 30.39% (Net Income 320.0m / Total Assets 1.10b)
RoE = 30.74% (Net Income TTM 320.0m / Total Stockholder Equity 1.04b)
RoCE = 9.09% (EBIT 99.7m / Capital Employed (Total Assets 1.10b - Current Liab 1.21m))
RoIC = 9.09% (EBIT 99.7m / (Assets 1.10b - Curr.Liab 1.21m - Cash 59.0))
WACC = 8.18% (E(1.06b)/V(1.06b) * Re(8.18%) + (debt-free company))
Discount Rate = 8.18% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 4.81%
[DCF Debug] Terminal Value 69.40% ; FCFF base≈8.72m ; Y1≈5.72m ; Y5≈2.61m
Fair Price DCF = 0.89 (EV 49.5m - Net Debt -59.0 = Equity 49.5m / Shares 55.5m; r=8.18% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: -53.74 | EPS CAGR: -45.77% | SUE: -0.80 | # QB: 0
Revenue Correlation: 31.65 | Revenue CAGR: 15.85% | SUE: N/A | # QB: 0