Milestone Scientific director sells shares worth $209 By Investing.com

In a recent transaction, Michael McGeehan, a director at Milestone Scientific Inc. (AMEX:NYSE:), sold shares in the company. The transaction, which took place on September 24, involved the sale of 209 shares at a price of $1.00 each, netting a total of $209.

This move by McGeehan comes as part of the latest financial activities disclosed by the company. Following the sale, McGeehan still holds a significant number of shares in Milestone Scientific, amounting to 595,273 shares.

Milestone Scientific, known for its developments in orthopedic, prosthetic, and surgical appliances and supplies, continues to be watched by investors for its performance and the trading activities of its insiders. The sale by McGeehan is one of the many transactions that shareholders and potential investors analyze to understand the confidence insiders have in the company’s future performance.

Transactions like these are common and are often part of an executive’s personal financial management strategy. The details of such sales are made public to ensure transparency and maintain investor confidence in the market.

In other recent news, Milestone Scientific announced its Q2 2024 financial results, reporting a net income of $0.2 million. The company achieved a significant milestone with the Medicare Part B physician payment rate assignment for their CompuFlo Epidural System, which targets an initial market potential of approximately $250 million among Medicare patients. Milestone Scientific has also expanded its business by partnering with Axial Biologics and securing regulatory approval to sell CompuFlo in Brazil. Despite a decrease in overall revenue compared to the same period last year, the company’s U.S. e-commerce sales saw a slight increase, and gross margins improved. The company maintains a strong balance sheet with $5.8 million in cash and no long-term debt. Milestone Scientific plans to focus on expanding sales and streamlining operations to achieve positive cash flow, and expects higher dental sales in the second half of the year. Despite facing some international sales challenges, the company’s leadership remains confident in improved sales for the remainder of the year.

InvestingPro Insights

To provide additional context to Michael McGeehan’s recent share sale, let’s examine some key financial metrics and insights from InvestingPro for Milestone Scientific Inc. (AMEX:MLSS).

According to InvestingPro data, Milestone Scientific has a market capitalization of $73.42 million. Despite the recent insider sale, the company’s stock has shown strong performance over the past few months. InvestingPro Tips highlight that MLSS has experienced a “Strong return over the last three months” and a “Large price uptick over the last six months.” This positive momentum is reflected in the 3-month and 6-month price total returns of 39.71% and 50.91%, respectively.

However, it’s important to note that the company faces some financial challenges. An InvestingPro Tip indicates that Milestone Scientific is “Not profitable over the last twelve months.” This is supported by the company’s negative operating income of -$6.73 million for the last twelve months as of Q2 2024. Additionally, the revenue growth has been negative, with a -15.47% decline over the same period.

On a positive note, Milestone Scientific “Operates with a moderate level of debt” and its “Liquid assets exceed short term obligations,” according to InvestingPro Tips. These factors may provide some financial stability as the company works towards profitability.

For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for MLSS, which could provide valuable insights into the company’s financial health and future prospects.

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