Semler Scientific Inc. (NASDAQ:SMLR) shares have reached a new 52-week high, touching $79.75 in recent trading, marking an impressive 24.52% gain in just the past week. According to InvestingPro data, the company maintains robust financials with an exceptional gross profit margin of 88.05%. This milestone reflects a significant uptrend for the medical equipment company, which has seen its stock value surge by 66.11% over the past year. With a market capitalization of $617.5 million and a healthy current ratio of 3.14, investors have shown increasing confidence in Semler's market position and growth prospects, propelling the stock to new heights. InvestingPro analysis reveals 18 additional key insights about SMLR's financial health and valuation metrics, available in the comprehensive Pro Research Report. The company's performance is particularly notable in a challenging economic environment, suggesting a robust demand for its healthcare products and services. Trading at a P/E ratio of 32.28, the stock appears to be trading above its Fair Value based on InvestingPro's proprietary valuation model. As Semler Scientific continues to innovate and expand its offerings, market watchers remain attentive to its potential for sustained growth.
In other recent news, Semler Scientific has seen a flurry of activity in its financial operations, with a distinct emphasis on Bitcoin acquisition and capital market activities. The healthcare technology company has increased its Bitcoin holdings to 2,084 units, acquired at an average price of $80,916 per coin. This acquisition was funded by its at-the-market offering and operating cash flow. Semler Scientific has also filed a second prospectus supplement to raise an additional $50 million through its ATM offering, in partnership with Cantor Fitzgerald & Co.
The company's recent financial results for the third quarter of 2024 showed a 17% year-over-year decrease in revenues to $13.5 million, while income from operations remained strong at $5.1 million. Despite this, Semler Scientific has seen a gain from the change in fair value of its Bitcoin holdings. The company is also actively seeking a new 510(k) clearance for an extension to its QuantaFlo product, expected in the first half of 2025.
These recent developments reflect Semler Scientific's dual focus on its core medical technology business and its assertive Bitcoin investment strategy. As the company navigates this balance, stakeholders will continue to monitor the progression of these dual priorities in the upcoming quarters.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.