Good Conference CallFirstly I will point out once again how desperate and totally stupid B2B makes himself look on the VMD board and the Qipt board. This person claims to be short the stock in a few posts, then posts recently that he wouldn't touch either with a ten foot pole. Plain and simple he is a liar, most here know that, same with the Qipt followers.
I am sure he listens to the CC's and hears what the rest of us hear, yet he posts the opposite of what Casey and Todd speak of. So some of the key points in the call, since covid the core business has struggled at times, yet has still managed to grow and post pretty good numbers during tough times. The company has invested in its own infrastructure, and believes this will help them secure rapid growth in 2022, they expect to expand into 20 new locations.
They are in discussions with new suppliers, some of which Casey stated can supply a better product. They continue to work with CMS to resolve the OIG report and still believe the company is in full compliance. The company continues to gather data that shows and proves that their NIV treatments work and save money.
To my knowledge this was the first call that I have heard meaningful conversation about the SP and trading multiples for the company and the healthcare space. Todd said that he could not speak to the reason that the entire healthcare space has seen a reduction in trading valuation, but did say that VMD was way under valued and the reason for the new NCIB.
I will remind B2B that the last NCIB done in 2018, lead by Beacon securities was very successful, Todd did not have the exact numbers, however he estimated that the company bought back about half the allowed amount. He said they stopped buying because the SP really took off, if memory serves Beacon was allowed to purchase stock up to and including $8.00 per share. B2B posted that Viemed stock was dead money for the next 2 years, of course we all know the stock price went on to reach a new high of $16 and change.
The 3 analyst's that called in all approved and it would seem so does the markets, both on the very good year end numbers and the share buy back news. We may all question the timing of this event as to why not sooner, but here we are today. With respect to Covid, things around the world are starting to open back up, let us all hope that continues as we all need to return to normal life. Their will always be geopolitical issues on this planet, most would agree. However the actions of Vladimir Putin are unforgiveable in my view.
No doubt one or more analyst's will put out a full report on Viemed in the coming days. Today could be a good start in turning things around for this company. However there is much work to be done in regaining credibility for both retail and instutional investors. Mistakes have been made by this management team, time will tell if they have learned anything.