In a recent transaction, Michael Korenko, the CEO and President of Vivos Inc (OTCMKTS:RDGL), a company specializing in surgical and medical instruments and apparatus, has invested in his own company by purchasing shares. On August 13, 2024, Korenko acquired 50,000 shares of Vivos Inc common stock at a price of $0.1119 per share, amounting to a total investment of approximately $5,595.
This purchase adds to Korenko's already significant holdings in the company, demonstrating his continued confidence in the firm's prospects. Following the transaction, the CEO's stake in Vivos has increased to 10,335,090 shares of common stock.
Vivos Inc, known for its medical and surgical products, operates under the ticker RDGL on the OTCMKTS. The company, incorporated in Delaware, has its business address in Richland, Washington. Previously known as Advanced Medical Isotope Corp, Vivos Inc changed its name in 2008.
Investors often monitor insider transactions such as these as they can provide insights into how the company's leadership views the stock's value and future performance. However, it is important to note that these transactions do not necessarily predict market movements and should be considered as one of many factors in making investment decisions.
InvestingPro Insights
As Vivos Inc (OTCMKTS:RDGL) continues to make headlines with insider transactions, current metrics and analyses from InvestingPro provide a deeper financial perspective on the company's status. With a market capitalization of $45.51 million, Vivos Inc presents a unique profile in the medical and surgical instruments sector. Despite the CEO's recent share purchase, which signals confidence, the company faces challenges as analysts anticipate a sales decline in the current year, echoing a revenue growth downturn of -38.98% over the last twelve months as of Q1 2024. This is further compounded by a quarterly revenue growth drop of -25.0% in Q1 2024.
InvestingPro Tips highlight that Vivos Inc suffers from weak gross profit margins, recorded at -33.33% over the last twelve months as of Q1 2024. The company's financial health is also reflected by its negative P/E ratio of -14.57, illustrating that it has not been profitable over the last twelve months. Additionally, its stock has experienced significant volatility with a large price uptick over the last six months at 94.27%, yet also a substantial price fall of -42.75% over the last three months. This indicates a potentially higher risk for investors considering the stock's recent performance.
On a more positive note, an InvestingPro Tip points out that Vivos Inc's liquid assets exceed its short-term obligations, suggesting a degree of financial stability in the near term. For investors seeking further insights and additional InvestingPro Tips, there are 11 more listed on the platform, which could provide a more comprehensive understanding of Vivos Inc's financial health and market position.
These financial metrics and expert tips from InvestingPro offer valuable context for potential investors and current shareholders evaluating the company's performance and future outlook. For a more detailed analysis and additional tips, interested parties can visit https://www.investing.com/pro/RDGL.
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