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Overlooked ImpediMed close to 24-month lows. Power says ImpediMed (ASX:IPD) is a stock worth watching with its share price drifting back close to 24-months lows and investors seemingly overlooking a number of positives, including a complete refresh of the board and new appointments to the management team. IPD is a world leader in the design and manufacture of medical devices employing bioimpedance spectroscopy (BIS) technologies for use in the noninvasive clinical assessment and monitoring of fluid status and tissue composition. The company’s SOZO device is the only FDA-cleared BIS solution for the clinical assessment of lymphoedema. “Our focus is on the growth of the US installed base (currently at 555 units), which since the technology has been included in the national guidelines in March 2023, has been below expectations,” Morgans says in a note to clients. “Under the new team, we are now expecting to see the start of consistent and meaningful growth in the installed base, which will be a key driver to moving the company to a break-even point within two years and improving investor sentiment. ”Power says Morgans’ view is that the new management has the business under control and costs are looking good. “The market is really looking for an increase in the installed base in the US,” he says. IPD is due to report its quarterly at the end of July. Morgans maintains a speculative buy recommendation on IPD with a 12-month price target of 20 cents.