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Analyst Coverage Initiated on Progressive Care, Inc. (RXMD) with Speculative Buy Rating Following Recent Earnings Announcement
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PR Newswire
MIAMI, Aug. 12, 2015
MIAMI, Aug. 12, 2015 /PRNewswire/ -- In the last month of 2014, Progressive Care, Inc. (RXMD) through its subsidiary PharmCo, LLC, filled over 14,000 prescriptions as the number of prescriptions filled rose for a 6th straight month. During the three months ended June 30, 2015, prescriptions counts reached a record high of approximately 43,000 fills, which represents a year-over-year increase of 11%. Most recently on August 6, 2015, Progressive Care reported a net revenue increase of 18% year-over-year for the six months ended June 30, 2015 from approximately $5.40 million to approximately $6.40 million. This significant improvement in operating performance was a result of higher gross margins associated with compounded medications and a more efficient operational structure. Cash position has also improved with cash on hand increasing $282,486 from the beginning of the year.
Progressive Care, Inc. (RXMD) through its wholly-owned subsidiary, PharmCo, LLC, is a North Miami Beach, Florida based provider of prescription pharmaceuticals specializing in the sale of anti-retroviral medications and related patient care management, the sale and rental of durable medical equipment (DME) and the supply of prescription medications and DME to nursing homes and assisted living facilities. The Company also provides long term care solutions to skilled nursing facilities (SNFs), assisted living facilities (ALFs), retirement centers and communities, doctors' offices and clinics. The Company provides confidential prescription packaging that suits the individual patient's needs and lifestyle. PharmCo provides purchasing, repackaging and dispensing of both prescription and non-prescription pharmaceutical products.
An analyst report on RXMD that includes a company overview, market and competition breakdown, recent events, outlook, valuation, analyst summary and recommendation can be viewed by using the following link:
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Midam IR Inc. is the next generation of financial communication. We offer a full suite of services including IR, media marketing, content creation, advertising, and direct relationships with PR contacts that have afforded our clients the ability to have their corporate message reach beyond traditional channels. Midam is focused on helping publicly traded companies get their story & product out to the targeted masses, aiding in the acquisition of new shareholders, both on a retail & institutional level as well as the increase in revenue from corporate product sales.
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This report may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward- looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of mentioned company to be materially different from the statements made herein.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/analyst-coverage-initiated-on-progressive-care-inc-rxmd-with-speculative-buy-rating-following-recent-earnings-announcement-300127275.html
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