Michael McGeehan, a director at Milestone Scientific Inc. (AMEX:NYSE:MLSS), recently sold 20,000 shares of the company’s common stock. The transactions took place on December 19, 2024, with shares sold at a weighted average price of $0.7766, totaling approximately $15,532. Following this sale, McGeehan retains ownership of 575,273 shares in the company. The shares were sold in multiple transactions within a price range of $0.7700 to $0.7950. The company, currently valued at $71 million, maintains a healthy financial position with a current ratio of 2.85 and operates with moderate debt levels. Analysts see significant upside potential, with price targets ranging from $1.25 to $3.00. Get deeper insights into MLSS's insider trading patterns and comprehensive analysis with InvestingPro, which offers 6 additional key insights about the company's prospects.
In other recent news, Milestone (WA:MMD) Scientific Inc. reported a 22% year-over-year increase in revenue in its third-quarter 2024 earnings call, reaching $2.5 million. This growth was primarily driven by a 57% surge in international dental sales. However, the company also reported a net loss of $1.5 million for the quarter. Despite this, the company's gross margins remained strong at 73%.
One of the significant developments was that Milestone Scientific 's CompuFlo Epidural System started receiving Medicare Part B reimbursements. This development is expected to increase its adoption in pain management clinics. Furthermore, the company has secured regulatory approval for CompuFlo in Brazil, expanding its international reach.
While the company has faced challenges such as a decrease in international revenue due to freight forwarding issues, it remains focused on strengthening its commercial infrastructure and market penetration. The management is confident in their growth strategy for both dental and medical divisions. These recent developments indicate the company's continued commitment to driving both domestic and international growth.
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