Countries have varied in their responses to the COVID-19 pandemic. Early on, there was significant concern about the availability of ventilators in hospitals across the United States. Today, I want to revisit one health-care stock that has surged in recent weeks. It has generated enthusiasm as it is a supplier of in-home ventilators.
VieMed Healthcare (TSX:VMD)(NASDAQ:VMD) provides in-home durable medical equipment and health-care solutions to patients in the United States. Shares of VieMed have climbed 70% month-over-month as of close on April 27. The stock is up 28% year over year.
In 2019, the company reported net revenues of $80.3 million – up 38% from 2018. Adjusted EBITDA increased 15% from the prior year. Moreover, it released promising first-quarter guidance for 2020 in early March.
VieMed was one of the few companies to boost its guidance in the face of the COVID-19 pandemic. On April 6, the company announced that it would increase its previously issued net revenue guidance for the first quarter of 2020. It also revealed that it was working with government agencies and health systems around the U.S. to provide support as the COVID-19 outbreak rages on.
Investors can expect to see VieMed’s first-quarter 2020 results on the morning of May 5. This health-care stock is booming in this environment and has room to run as demand for its services it surging.
