Progressive Care Inc (OTCMKTS:RXMD) has seen a nice spike in price this week and over a one month span, the stock is up more than 300%. RXMD saw a decent year-end revenue jump. For the three months ended September 30th, 2017 vs September 30th, 2016, Progressive Care reported revenue of $5.09MM vs $4.83MM (up 5.36%) and basic earnings per share $0.00 vs $0.00.
The South Florida company has seen some pretty crazy volume this year as well. Volume has been noted to surpass 25M on some days and that is good news for this company that sees itself as NASDAQ bound. One of the exciting catalysts that could be attracting investors is the rising amount of prescriptions the company is filling. In November, RXMD announced a 15% increase in the number of prescriptions filled. The number which had risen from just over 18,000 now stood at over 21,000 prescriptions. Then, the company followed up by shattering this record and filling 23,000 prescriptions in January. “We are thrilled about the fast start to 2018,” stated S. Parikh Mars, CEO. “We are just beginning to see the results from the groundwork we laid in 2017. Over the past 12 months, we have strategically positioned ourselves to take advantage of the changing trends in the healthcare industry. Today, more physicians than ever before are recognizing the impact PharmCo and its model has on their bottom line. They are increasingly seeking out our services to improve patient outcomes and increase profitability.”
Progressive Care Inc (OTCMKTS:RXMD), through its subsidiary Pharmco LLC, trumpets itself as a company that provides prescription pharmaceuticals to individuals and institutions in south Florida.
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.
Find out when $RXMD stock reaches critical levels. Subscribe to FinanceRegistrar.com Right Now by entering your Email in the box below.
In addition, RXMD inked a deal to shore up its digital presence with the Florida-based Mass Ventures Corp. The companies are working on a digital marketing campaign that includes website upgrades, enhanced and updated content, blog posting, social media development, press release distribution, and search engine optimization.
“The Mass Ventures Corp team has worked with us for over 5 years,” stated S. Parikh Mars, CEO. “We are excited to bring them on-site and begin a transformation of our online presence, as well as creating technology solutions that will modernize all areas of our enterprise. We believe that efforts in this area will make a difference in how we set ourselves apart as a company of the future. This will change how our shareholders and customers perceive and interact with us. Already, we are seeing the impact this project has had on our customer engagement and market awareness.”
“Progressive Care and PharmCo, LLC are ripe for exponential growth and success,” says Marcello Jaspan, owner and operator at MVC. “We are thrilled about the opportunity to serve such an amazing group and to work closely to create engagement and social buzz. On the technical side, we have infinite possibilities for expansion. We started with the launch of Tele-Pharmco, and we will soon have many Apps for customers and internal logistics alike. We will have goodies for everyone coming real soon, all aimed at making everyone’s lives easier and more enjoyable.”
Progressive Care Inc (OTCMKTS:RXMD) should be on your watchlist right now. RXMD has a market cap of 2.09M and 24.41M shares out. The 10-day volume is averaging 11.45M. We are seeing bullish flags here and see reason to be excited about the company’s portfolio. We will be offering more updates as news comes out. 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 in $RXMD, either long or short, and we have not been compensated for this article.