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Viemed Healthcare
(NASDAQ:VMD)
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Rating:67Neutral
Price Target:
$10.50
▲(13.39% Upside)
Action:Downgraded
Date:08/05/26
The score reflects strong underlying financial quality (growth, cash generation, and low leverage) and a generally positive earnings update with improved guidance and cash returns to shareholders. These positives are tempered by weak technical momentum (price below key moving averages with bearish MACD) and a relatively high P/E with no dividend support, while margin compression remains the primary fundamental risk to monitor.
Positive Factors
Revenue Growth & Patient Base Expansion
Sustained multi-year revenue expansion and a growing ventilator patient base anchor recurring rental revenue and resupply demand. A larger installed base increases predictable cashflows and referral leverage, supporting durable top-line growth and scaling of in-home chronic respiratory services.
Negative Factors
Margin Compression & Revenue Mix Shift
A structural shift toward lower-margin, less capital-intensive revenue reduces aggregate gross and EBITDA margins even as revenue rises. Persisting mix change requires higher volume or sustained efficiency gains to preserve profitability and return on invested assets over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Patient Base Expansion
Sustained multi-year revenue expansion and a growing ventilator patient base anchor recurring rental revenue and resupply demand. A larger installed base increases predictable cashflows and referral leverage, supporting durable top-line growth and scaling of in-home chronic respiratory services.
Read all positive factors
Viemed Healthcare (VMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$349.27M
Dividend YieldN/A
Average Volume (3M)333.65K
Price to Earnings (P/E)24.4
Beta (1Y)0.51
Revenue Growth25.21%
EPS Growth6.14%
CountryUS
Employees1,387
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.38
Shares Outstanding38,088,226
10 Day Avg. Volume302,673
30 Day Avg. Volume333,654
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)2.04
Price to Sales (P/S)1.07
P/FCF Ratio24.22
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$11.00Price Target Upside18.79% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.46
Revenue Forecast (FY)$317.30M
Viemed Healthcare Business Overview & Revenue Model
Company Description
Viemed Healthcare, Inc., through its subsidiaries, provides home medical equipment (HME) and post-acute respiratory healthcare services in the United States. The company provides respiratory disease management solutions, including treatment of chr...
How the Company Makes Money
Viemed primarily makes money by delivering respiratory therapy services and renting/supplying related durable medical equipment and consumable supplies to patients, with reimbursement largely coming from third-party payors (including government an...
Viemed Healthcare Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented multiple material operational and financial positives: record revenue, the largest-ever active ventilator patient base, strong sequential and year-over-year growth in sleep and resupply, improving compliance, improved cash generation, and clear investments in technology and scalability (e.g., Tenor). Offsetting these were margin pressures in adjusted EBITDA and gross margin driven by revenue mix shifts, temporary maternal health transition costs, higher SG&A from deliberate scaling and one-time duplicative costs, and some near-term uncertainty on RT capacity. Management communicated confidence in the growth trajectory, provided constructive explanations for margin dynamics, and raised revenue guidance while outlining levers for second-half operating leverage.Positive Updates
Record Quarterly Revenue and Raised Guidance
Revenue reached $78.1M in Q2, up ~24% year-over-year and ~4% sequentially. Management raised the low end of full-year net revenue guidance to $314M–$320M (from $312M–$320M).
Negative Updates
Adjusted EBITDA Margin Pressure
Adjusted EBITDA was $13.7M in Q2 (margin ~17.6%) versus ~22.7% in the prior-year quarter. Management noted a ~ $1.2M swing due to nonrecurring prior-year equipment disposal gains; excluding that, adjusted EBITDA increased year-over-year, but margin compression remains visible in H1.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and Raised Guidance
Revenue reached $78.1M in Q2, up ~24% year-over-year and ~4% sequentially. Management raised the low end of full-year net revenue guidance to $314M–$320M (from $312M–$320M).
Read all positive updates
Company Guidance
Management raised full‑year 2026 revenue guidance to $314–$320 million (from $312–$320M), narrowed adjusted EBITDA to $64–$68 million (from $65–$69M), and lowered net CapEx guidance to 8.5–10.0% of revenue (from 9–10.5%), while calling for continued sequential growth through H2 and an adjusted EBITDA margin of at least 20%; they emphasized generating solid free cash flow (H1 FCF $11.2M, trailing‑12M FCF $34.4M), funding ongoing growth, and preserving balance‑sheet flexibility after repaying about $2.2M of debt, repurchasing ~531,000 shares for $5.1M and ending June with $10.7M in cash (more cash than total debt).Viemed Healthcare Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 301.61M | 270.28M | 224.26M | 183.01M | 138.83M | 117.06M |
| Gross Profit | 172.55M | 155.46M | 133.20M | 112.78M | 84.68M | 73.41M |
| EBITDA | 53.62M | 51.56M | 42.31M | 36.68M | 24.82M | 24.13M |
| Net Income | 14.50M | 14.93M | 11.27M | 10.24M | 6.22M | 9.13M |
Balance Sheet | ||||||
| Total Assets | 204.22M | 214.94M | 177.07M | 154.90M | 117.04M | 117.96M |
| Cash, Cash Equivalents and Short-Term Investments | 10.68M | 13.50M | 17.54M | 12.84M | 16.91M | 28.41M |
| Total Debt | 11.60M | 15.95M | 6.87M | 10.32M | 694.00K | 6.52M |
| Total Liabilities | 58.26M | 71.42M | 43.77M | 41.00M | 19.95M | 23.14M |
| Stockholders Equity | 144.03M | 141.54M | 131.39M | 113.89M | 97.09M | 94.82M |
Cash Flow | ||||||
| Free Cash Flow | 29.24M | 11.93M | 1.32M | 19.12M | 4.85M | 2.75M |
| Operating Cash Flow | 60.78M | 51.92M | 39.09M | 45.21M | 27.75M | 22.49M |
| Investing Cash Flow | -53.23M | -50.17M | -30.70M | -52.11M | -23.98M | -19.75M |
| Financing Cash Flow | -16.89M | -5.79M | -3.69M | 2.83M | -15.27M | -5.32M |
Viemed Healthcare Technical Analysis
Negative
9.26
Price Trends
11.04
Negative
10.30
Negative
8.95
Positive
Market Momentum
-0.63
Positive
24.66
Positive
5.16
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VMD, the sentiment is Negative. The current price of 9.26 is below the 20-day moving average (MA) of 10.76, below the 50-day MA of 11.04, and above the 200-day MA of 8.95, indicating a neutral trend. The MACD of -0.63 indicates Positive momentum. The RSI at 24.66 is Positive, neither overbought nor oversold. The STOCH value of 5.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VMD.
Viemed Healthcare Risk Analysis
Viemed Healthcare disclosed 39 risk factors in its most recent earnings report. Viemed Healthcare reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Viemed Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $537.09M | 22.00 | 11.49% | ― | 17.22% | 74.89% | |
71 Outperform | $1.17B | 17.75 | 28.39% | ― | 3.14% | ― | |
67 Neutral | $349.27M | 24.39 | 10.30% | ― | 25.21% | 6.14% | |
55 Neutral | $408.72M | -3.44 | -165.83% | ― | 90.63% | -11.42% | |
55 Neutral | $79.80M | -1.10 | -62.25% | ― | -1.26% | 79.82% | |
54 Neutral | $154.19M | -6.39 | -13.17% | ― | 3.15% | 14.61% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
VMD
Viemed Healthcare
9.20
2.31
33.53%
INGN
Inogen
5.75
-1.71
-22.92%
SENS
Senseonics Holdings
7.81
-1.64
-17.37%
TCMD
Tactile Systems Technology
24.20
11.79
95.00%
OM
Outset Medical
4.51
-8.78
-66.06%
BVS
Bioventus
14.26
6.89
93.49%
Viemed Healthcare Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Viemed Shareholders Approve Expanded Long-Term Incentive Plan
Positive
Jun 4, 2026
Viemed Healthcare, Inc. held its Annual General and Special Meeting of Shareholders on June 4, 2026, where investors approved an increase in the share reserve under the 2024 Long Term Incentive Plan to 7,696,717 common shares, including up to 1,00...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Viemed Healthcare Releases Updated Investor Presentation and Outlook
Neutral
Jun 2, 2026
On June 2026, Viemed Healthcare Inc. released an investor presentation that it plans to use in meetings with investors, analysts and other stakeholders, and made the deck available on its website as supplemental summary information to its existing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.