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Viemed Healthcare Inc VMD

Viemed Healthcare, Inc. through its subsidiaries, is a provider of home medical equipment (HME) and post-acute respiratory healthcare services in the United States. The Company’s service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counselling to patients in their homes using cutting edge technologies. The Company’s products and services include Home Medical Equipment, In-home sleep testing, and Healthcare staffing. Home Medical Equipment provides respiratory and other home medical equipment, including home ventilation, bi-level positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP) devices, percussion vests, and other medical equipment. In-home sleep testing provides in home sleep apnea testing services. Healthcare staffing provides healthcare staffing and recruitment services. The Company provides home medical equipment services through its interest in East Alabama HomeMed, LLC (HomeMed).


NDAQ:VMD - Post by User

Post by LongTerm3on May 05, 2022 12:30pm
277 Views
Post# 34658999

Lake Street $15.00 US:

Lake Street $15.00 US:From the report:

"The Growth Engine Is Ramping; Maintaining Buy Rating And $15 PT Last night, VMD reported results that exceeded our forecast for revenue and AEBITDA (slightly) but missed our $0.05 EPS estimate by $0.01. Revenue grew 18% and AEBITDA grew 33%. We sense results improved month over month during the quarter, and there does not appear to have been any slowdown during April. The $0.01 EPS miss was primarily the result of higher than expected spending on SG&A. We view this positively as it reflects VMD’s efforts to ramp up the Company’s growth engine. Demand remains solid, and we sense VMD is doing a great job finding and training people to help the Company grow. VMD has the equipment it needs to serve its growing patient population. Overall, we are encouraged by the outlook for VMD. We are increasing our forecast as highlighted in the table at right. We affirm our Buy rating and $15 PT.

HIGHLIGHTS • Results – Q1’22 total revenue of $32.3M was above our $30.6M forecast and beat management’s $30.6M-$32.0M guided range. Core revenue came in at $30.2M which was ahead of our $29.2M forecast and at the higher end of management’s guided range of $29.2M-$30.2M. Q1 results also benefited from $2.1M in Covid related equipment sales, exceeding management’s guided range of $1.4M-$1.8M. Q1’22 GM was 61.2% vs. 61.5% LQ and 62.4% LY. In Q1, the core business had a 63.5% GM vs. 63.0% LQ, and the Covid-related sales had a 40.0% GM vs. 46.9% LQ. Adjusted EBITDA of $7.3M was in line with our $7.2M forcast."
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