Lazard Asset Management LLC Increases Position in Viemed Healthcare, Inc. $VMD

Key Points

• Lazard Asset Management more than doubled its Viemed Healthcare stake in the first quarter, adding 116,700 shares to own 215,938 shares valued at approximately $1.99 million. Institutional investors collectively hold 74.24% of VMD.
• Viemed reported quarterly revenue of $75.41 million, exceeding estimates, but earnings per share of $0.06 fell short of the $0.09 consensus forecast. Analysts expect full-year EPS of $0.44.
• VMD shares opened at $11.67, near their 12-month high of $12.61, while analysts maintain an average “Hold” rating. Two company insiders recently sold a combined 30,000 shares.

Lazard Asset Management LLC raised its holdings in shares of Viemed Healthcare, Inc. (NASDAQ:VMD - Free Report) by 117.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,938 shares of the company's stock after purchasing an additional 116,700 shares during the period. Lazard Asset Management LLC owned 0.56% of Viemed Healthcare worth $1,989,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Viemed Healthcare by 0.3% in the 1st quarter. Renaissance Technologies LLC now owns 442,200 shares of the company's stock worth $4,073,000 after purchasing an additional 1,400 shares in the last quarter. Bank of New York Mellon Corp increased its position in Viemed Healthcare by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 81,326 shares of the company's stock valued at $749,000 after buying an additional 1,773 shares in the last quarter. Martingale Asset Management L P raised its stake in Viemed Healthcare by 6.0% during the fourth quarter. Martingale Asset Management L P now owns 42,483 shares of the company's stock valued at $316,000 after buying an additional 2,399 shares during the last quarter. Invesco Ltd. raised its stake in Viemed Healthcare by 17.1% during the fourth quarter. Invesco Ltd. now owns 21,773 shares of the company's stock valued at $162,000 after buying an additional 3,173 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Viemed Healthcare in the fourth quarter worth $25,000. 74.24% of the stock is currently owned by hedge funds and other institutional investors.

Viemed Healthcare Price Performance

Shares of VMD opened at $11.67 on Monday. The company has a market capitalization of $447.43 million, a P/E ratio of 31.54 and a beta of 1.10. The company has a quick ratio of 1.10, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $11.12 and a 200 day moving average of $9.66. Viemed Healthcare, Inc. has a twelve month low of $5.93 and a twelve month high of $12.61.

Viemed Healthcare (NASDAQ:VMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Viemed Healthcare had a net margin of 5.20% and a return on equity of 10.52%. The business had revenue of $75.41 million during the quarter, compared to the consensus estimate of $74.40 million. As a group, equities research analysts anticipate that Viemed Healthcare, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Frazier sold 10,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $11.72, for a total transaction of $117,200.00. Following the sale, the insider directly owned 73,214 shares of the company's stock, valued at $858,068.08. This trade represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy Smokoff sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $11.50, for a total transaction of $230,000.00. Following the transaction, the director owned 75,518 shares in the company, valued at $868,457. This represents a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 20.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Viemed Healthcare in a report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

Viemed Healthcare Company Profile

Viemed Healthcare, Inc NASDAQ: VMD is a provider of home-based respiratory therapy services, specializing in the management of patients requiring long-term mechanical ventilation and pulmonary support. The company’s offerings encompass invasive and noninvasive ventilation, airway clearance therapies, cough assist devices, and supplemental oxygen. Viemed combines durable medical equipment with clinical care, delivering tailored respiratory treatment plans that are overseen by licensed respiratory therapists and registered nurses.

Founded in the early 2010s and headquartered in Birmingham, Alabama, Viemed has grown its footprint to serve patients across multiple states in the United States.

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