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Thursday, December 8, 2022

Taking Stock of Viemed’ Risk Factors

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Viemed Healthcare (VMD) provides in-home medical equipment and post-acute respiratory healthcare services in the U.S. On August 2, Viemed reported better-than-expected Q2 results.

Let’s take a look at the company’s financial performance and what has changed in its key risk factors that investors should know.

Net revenue of the company dropped 36% year-over-year to $27.4 million, beating consensus by $69.7 thousand. Its second-quarter top line included $1.1 million net revenue for contact and vaccine tracing services and product sales associated with COVID-19. Additionally, Viemed’s core business revenue of $26.3 million registered sales growth of 13% from last year.

The CEO of Viemed, Casey Hoyt, said, “I am extremely pleased with our Company’s ability to grow our active patient count across all of our major product lines during the quarter…We continue to see treating respiratory patients in the home as a major growth segment and are seeing new patient onboardings increase as we continue to navigate through the pandemic.”

Earnings per share of $0.04 surpassed the Street’s estimate by $0.01. Looking ahead, Viemed expects Q3 core business revenue to be between $26.8 million and $27.8 million. It sees total revenue between $27.3 million and $28.6 million. (See Viemed Healthcare stock chart on TipRanks)

Three months ago, Bloom Burton analyst Prasath Pandurangan assigned a Buy rating to the stock but did not give any price target.

Now, let’s look at what has changed in the company’s key risk factors.

According to the new Tipranks’ Risk Factors tool, Viemed’s main risk category is Finance & Corporate, which accounts for 36% of the total 42 risks identified. Since June, the company has added one key risk factor under the Production category.

Viemed distributes and sells certain Royal Philips BiPAP and CPAP devices and ventilators. In June, Royal Philips initiated a voluntary recall of these products to address potential health risks arising from the foam component in these devices. This recall could have an adverse impact on Viemed’s business, reputation, financial performance and future prospects.

The Finance & Corporate risk factor’s sector average is at 33%, compared to Viemed’s 36%. Shares are down 37% so far this year.

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The post Taking Stock of Viemed’ Risk Factors appeared first on TipRanks Financial Blog.

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