Kaushal Nitin, a director at Viemed Healthcare Inc. (NASDAQ:VMD), recently sold a significant portion of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Nitin sold a total of 30,000 shares over two days, with transactions taking place on November 25 and November 26. The shares were sold at prices ranging from $8.58 to $8.70, resulting in a total sale value of $260,280.
In addition to the sales, Nitin also exercised stock options on the same days, acquiring 30,000 common shares at an exercise price of $2.50 per share. Following these transactions, Nitin's direct ownership in Viemed Healthcare stands at 126,843 shares.
In other recent news, Viemed Healthcare reported a record Q3 2024 revenue of $58 million, surpassing their projections. This success is attributed to organic growth and strategic mergers and acquisitions, backed by a workforce of over 1,150 employees. The company's active vent patient count increased by 4.3% and sleep therapy patient count rose by 11% sequentially, contributing to this growth. Viemed's management is optimistic about recruitment and growth for 2025, with a strong potential for further M&A.
Challenges noted include replacing a significant fleet of recalled ventilators, which may impact capital expenditure into the next year. However, the company is collaborating with Philips and the FDA for the remediation of these recalled ventilators. On a brighter note, Viemed has seen positive movement on the 75-25 reimbursement relief, which could improve financial performance in 2025.
In terms of future projections, Viemed expects Q4 net revenue to range from $59.7 million to $60.9 million. The company also anticipates continued growth in vent patient counts and contributions from the sleep business. These recent developments indicate a robust and positive trajectory for Viemed Healthcare.
InvestingPro Insights
Viemed Healthcare Inc. (NASDAQ:VMD) has shown strong financial performance recently, which may provide context for the director's stock transactions. According to InvestingPro data, the company's revenue grew by 26.22% in the last twelve months as of Q3 2024, reaching $214.3 million. This growth is complemented by a healthy gross profit margin of 60.28% for the same period.
An InvestingPro Tip indicates that VMD has delivered a strong return over the last three months, which is corroborated by the data showing a 17.85% price total return over that period. This recent performance might have influenced the director's decision to exercise options and sell shares.
Despite the recent stock sale by the director, another InvestingPro Tip suggests that analysts predict the company will be profitable this year. This positive outlook is supported by the company's operating income margin of 8.17% in the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 9 more InvestingPro Tips available for VMD, providing a deeper understanding of the company's financial health and market position.
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