Leonard Osser, a director at Milestone Scientific Inc. (NYSE:MLSS), recently sold 107,984 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $0.93 each, totaling $100,425. Following this transaction, Osser holds 4,606,882 shares directly. Milestone Scientific, headquartered in Livingston, New Jersey, is known for its work in the field of orthopedic, prosthetic, and surgical appliances and supplies.
In other recent news, Milestone Scientific reported a net income of $0.2 million in their Q2 2024 financial results. Despite a decrease in overall revenue compared to the previous year, the company noted a slight increase in U.S. e-commerce sales and improved gross margins. A significant achievement for the company was the receipt of the Medicare Part B physician payment rate assignment for their CompuFlo Epidural System, targeting an initial market potential of approximately $250 million among Medicare patients.
The company has also expanded its business footprint by partnering with Axial Biologics and securing regulatory approval to sell CompuFlo in Brazil. Notably, the iHeal Pain Center has integrated the CompuFlo Epidural System into clinical use, marking a new phase in Milestone's commercial strategy.
These recent developments come amidst challenges with freight forwarders, which led to lower international sales. However, the company remains confident in improving sales for the remainder of the year. This confidence was echoed by Milestone Scientific's CEO, Arjan Haverhals, during the company's Q2 earnings call, where he also discussed the company's focus on clinician engagement and patient case payments.
InvestingPro Insights
In light of Leonard Osser's recent stock sale, it's worth examining Milestone Scientific's current financial position and market performance. According to InvestingPro data, the company's market capitalization stands at $63.36 million, reflecting its status as a small-cap player in the medical devices sector.
Despite the director's sale, Milestone Scientific has seen a significant price uptick over the last six months, with a 45.4% total return. This contrasts with its more recent performance, as an InvestingPro Tip notes that the stock has fared poorly over the last month, showing a 16.49% decline.
From a financial perspective, Milestone Scientific presents a mixed picture. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, which could provide some financial flexibility. However, the company is not currently profitable, with a negative operating income margin of 79.93% for the last twelve months as of Q2 2023.
Investors should note that analysts do not anticipate the company will be profitable this year, according to another InvestingPro Tip. This aligns with the company's recent financial performance, including a 15.47% revenue decline over the last twelve months.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Milestone Scientific, providing deeper insights into the company's financial health and market position.
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