Progressive Care Inc (OTCMKTS:RXMD) Launches on Hu
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Posted On: 11/18/2019 9:07:57 AM
Progressive Care Inc (OTCMKTS:RXMD) Launches on Huge Q3 Triumph
By James Hudson - November 17, 2019
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The breakout is on in shares of Progressive Care Inc (OTCMKTS:RXMD). The stock is up as much as 100% in the past two weeks on a jump in volume. That suggests something important is going on here, and the crowd is starting to figure it out. The most obvious sign of that “something important” dynamic comes to us in the form of the company’s most recent earnings report, which was a revelation of growth and efficiency that showed the company setting a series of new and impressive records on virtually all fronts.
“Q3 set new records across basically all metrics,” commented S. Parikh Mars, Progressive Care CEO. “We saw accelerating growth in sales and prescriptions while continuing our strong multi-quarter trends of falling costs and expanding gross margins. Beyond the numbers, we are seeing a major positive impact from our recent Family Physicians Rx acquisition, and the Company is firing on all cylinders post-integration. Ultimately, this creates a very favorable backdrop for continued aggressive expansion in the months and quarters ahead as we prepare to launch several powerful new initiatives in Q4 and 2020.”
Progressive Care Inc (OTCMKTS:RXMD) bills itself as a company that, through its subsidiary, Pharmco, LLC, provides prescription pharmaceuticals to individuals and institutions in south Florida. But the company is also rapidly angling toward a more diversified health services model, with proprietary branded CBD products and a disruptive telehealth strategy.
The company operates a retail pharmacy that specializes in the sale of anti-retroviral medications and related patient care management; the sale and rental of durable medical equipment (DME), such as hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories; and the supply of various prescription medications to long term care facilities.
It also provides long term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors’ offices, and clinics. In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long term care customers.
Further, it offers computerized maintenance of patient prescription histories; third party billing; and consultant pharmacist services consisting of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system, as well as home service and maintenance, defective product replacements, and free home installation and instruction services. Progressive Care, Inc. was founded in 2005 and is based in Hallandale Beach, Florida.
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As noted above, RXMD just announced a huge Q3 earnings report success, helping to drive a fresh breakout higher in shares.
The report showed consolidated quarterly year-over-year revenue growth of 91% to $10.14 million, Q3 gross margins expanding to 24.4% (versus Q2 22.7%, Q1 19.8%), and gross profit up 128% year-over-year to $2.47 million.
The chart shows 41% during the past month in terms of shareholder gains in the listing. In addition, the stock has seen interest climb, with an increase in recent trading volume of 53% above the average volume levels in play in this stock over the longer term.
“Get ready for a transformation,” continued Mars. “We are extremely excited about the opportunity to monetize telemedicine in a manner that will truly change the game as it is currently played. We look forward to introducing current and prospective shareholders to this vision in the months ahead. 2019 has been a breakout year. But the core message that we have right now for our shareholders is this: expect a transformative evolutionary leap to a vastly more scalable, diversified, and higher margin Progressive Care in 2020 and beyond.”
Now commanding a market cap of $24M, RXMD is pulling in trailing 12-month revenues of $32.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 91%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $RXMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position i
https://oracledispatch.com/2019/11/17/progres...3-triumph/
By James Hudson - November 17, 2019
SHARE Facebook Twitter
The breakout is on in shares of Progressive Care Inc (OTCMKTS:RXMD). The stock is up as much as 100% in the past two weeks on a jump in volume. That suggests something important is going on here, and the crowd is starting to figure it out. The most obvious sign of that “something important” dynamic comes to us in the form of the company’s most recent earnings report, which was a revelation of growth and efficiency that showed the company setting a series of new and impressive records on virtually all fronts.
“Q3 set new records across basically all metrics,” commented S. Parikh Mars, Progressive Care CEO. “We saw accelerating growth in sales and prescriptions while continuing our strong multi-quarter trends of falling costs and expanding gross margins. Beyond the numbers, we are seeing a major positive impact from our recent Family Physicians Rx acquisition, and the Company is firing on all cylinders post-integration. Ultimately, this creates a very favorable backdrop for continued aggressive expansion in the months and quarters ahead as we prepare to launch several powerful new initiatives in Q4 and 2020.”
Progressive Care Inc (OTCMKTS:RXMD) bills itself as a company that, through its subsidiary, Pharmco, LLC, provides prescription pharmaceuticals to individuals and institutions in south Florida. But the company is also rapidly angling toward a more diversified health services model, with proprietary branded CBD products and a disruptive telehealth strategy.
The company operates a retail pharmacy that specializes in the sale of anti-retroviral medications and related patient care management; the sale and rental of durable medical equipment (DME), such as hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories; and the supply of various prescription medications to long term care facilities.
It also provides long term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors’ offices, and clinics. In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long term care customers.
Further, it offers computerized maintenance of patient prescription histories; third party billing; and consultant pharmacist services consisting of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system, as well as home service and maintenance, defective product replacements, and free home installation and instruction services. Progressive Care, Inc. was founded in 2005 and is based in Hallandale Beach, Florida.
Find out when $RXMD reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, RXMD just announced a huge Q3 earnings report success, helping to drive a fresh breakout higher in shares.
The report showed consolidated quarterly year-over-year revenue growth of 91% to $10.14 million, Q3 gross margins expanding to 24.4% (versus Q2 22.7%, Q1 19.8%), and gross profit up 128% year-over-year to $2.47 million.
The chart shows 41% during the past month in terms of shareholder gains in the listing. In addition, the stock has seen interest climb, with an increase in recent trading volume of 53% above the average volume levels in play in this stock over the longer term.
“Get ready for a transformation,” continued Mars. “We are extremely excited about the opportunity to monetize telemedicine in a manner that will truly change the game as it is currently played. We look forward to introducing current and prospective shareholders to this vision in the months ahead. 2019 has been a breakout year. But the core message that we have right now for our shareholders is this: expect a transformative evolutionary leap to a vastly more scalable, diversified, and higher margin Progressive Care in 2020 and beyond.”
Now commanding a market cap of $24M, RXMD is pulling in trailing 12-month revenues of $32.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 91%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $RXMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position i
https://oracledispatch.com/2019/11/17/progres...3-triumph/
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