VMD - 3 Stocks to Buy and Hold During the Coronavirus Pandemic
The coronavirus pandemic has made life difficult for businesses that rely on in-store traffic and those that sell products and services that aren't considered essential. But that isn't the case for the three stocks listed below, which have benefited from strong demand during the pandemic. They've proven to be resilient during these challenging times and are good buys not just during the pandemic, but also over the long term.
Viemed Healthcare (NASDAQ: VMD) is a company that sells ventilators, so it's no surprise that it's been soaring this year, up over 50% year to date as the S&P 500 has fallen 4%. There's been concern that there may not be enough ventilators to help patients with COVID-19. And with coronavirus cases continuing to climb -- up to over 2.7 million in the U.S. alone -- the need for ventilators is only going to rise.
In its first quarter of 2020, the results of which the company released on May 4, Viemed's net revenue was up 31% year over year to $23.8 million. Viemed estimates that $1 million in product sales were related to the coronavirus pandemic.