Should You Hold Viemed Healthcare (VMD)?
Wasatch Global Investors, an investment management firm, released its “Wasatch Micro Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark during the quarter. The quality-oriented positioning was the main reason for the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Wasatch Micro Cap Value Strategy highlighted stocks like Viemed Healthcare, Inc. (NASDAQ:VMD) in the third quarter 2023 investor letter. Headquartered in Lafayette, Louisiana, Viemed Healthcare, Inc. (NASDAQ:VMD) is a home healthcare solutions provider. On December 22, 2023, Viemed Healthcare, Inc. (NASDAQ:VMD) stock closed at $8.10 per share. One-month return of Viemed Healthcare, Inc. (NASDAQ:VMD) was 1.50%, and its shares gained 8.72% of their value over the last 52 weeks. Viemed Healthcare, Inc. (NASDAQ:VMD) has a market capitalization of $311.761 million.
Wasatch Micro Cap Value Strategy made the following comment about Viemed Healthcare, Inc. (NASDAQ:VMD) in its Q3 2023 investor letter:
"Viemed Healthcare, Inc. (NASDAQ:VMD) performed poorly, too. The company provides health-care services, including respiratory-disease management, neuromuscular care, home sleep testing, sleep-apnea treatment and oxygen therapy. Viemed also offers rentals of ventilators and peripheral equipment. We’ve been involved with the company for several years, buying it when we thought the valuation was attractive and selling when the valuation appeared unwarranted. The speculative excesses surrounding Covid-19 have recently subsided, and the company has been achieving sustainable organic growth of greater than 20% annually. Moreover, Viemed has acquired another business in a deal that’s been accretive to earnings. We think the third quarter’s stock-price decline was simply a normal pullback from a strong gain that began in early 2022. We also believe the company is well-funded and relatively insulated from economic fluctuations."
A smiling healthcare professional, treating a patient with the PLEX platform.
Viemed Healthcare, Inc. (NASDAQ:VMD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Viemed Healthcare, Inc. (NASDAQ:VMD) at the end of third quarter which was 11 in the previous quarter.
We discussed Viemed Healthcare, Inc. (NASDAQ:VMD) in another article and shared Cove Street Small Cap Value Fund's views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
