Gold prices bounce off 3-week lows; demand likely longer term
WALTHAM, Mass. - OptimizeRx Corp. (NASDAQ:OPRX), a prominent healthcare technology firm, announced today the appointment of Steve Silvestro as its new Chief Executive Officer. Silvestro, who has been with the company since April 2019, brings over two decades of experience in health technology and services. The appointment comes at a crucial time for OptimizeRx, which according to InvestingPro data, has maintained strong revenue growth with a 40.4% increase in the last twelve months, despite challenging market conditions.
Lynn Vos, Chairperson of OptimizeRx’s Board of Directors, stated that the decision to appoint Silvestro was unanimous among the independent directors following a comprehensive search. As a former Chief Commercial Officer and interim CEO at OptimizeRx, Silvestro has been pivotal in expanding the company’s brand and transitioning it to a significant player with omnichannel capabilities. InvestingPro analysis indicates the company appears undervalued based on its Fair Value assessment, with two analysts recently revising their earnings expectations upward for the upcoming period.
Silvestro commented on his appointment, expressing gratitude for the board’s trust and emphasizing his focus on operational excellence, customer centricity, and strengthening partnerships to drive growth and shareholder value.
Before joining OptimizeRx, Silvestro held leadership roles at various companies, including CCH Tagetik and Prognos Health. He is a Harvard University graduate with a Master of Liberal Arts in Business Management and holds a Bachelor of Arts from Brigham Young University.
OptimizeRx is known for its AI-driven tools like the Dynamic Audience Activation Platform and Micro-Neighborhood Targeting, aiming to bridge the gap between healthcare professionals and direct-to-consumer strategies. The company is headquartered in Waltham, Massachusetts, and collaborates with leading pharmaceutical and life sciences companies.
The press release also contains forward-looking statements regarding OptimizeRx’s future performance and strategies. However, these statements involve risks and uncertainties, and actual results may differ materially from those projected. The information in this article is based on a press release statement. Financial metrics from InvestingPro show the company maintains a healthy current ratio of 3.23, with liquid assets exceeding short-term obligations. Discover more insights about OPRX and 1,400+ other stocks through InvestingPro’s comprehensive research reports, featuring detailed analysis and actionable intelligence for informed investment decisions.
In other recent news, OptimizeRX Corp has announced a significant leadership transition, with CEO William Febbo stepping down at the end of the year. During his nearly nine-year tenure, Febbo expanded the company’s revenue from approximately $10 million to an estimated $90 million in 2024. Stephen Silvestro, the current President, will assume the role of interim CEO starting January 1, as the Board of Directors searches for a permanent successor. Despite the leadership change, Lake Street Capital Markets, Stifel, and B.Riley have all maintained Buy ratings on OptimizeRX, citing confidence in the company’s strategic direction and potential for growth.
Lake Street Capital Markets expressed surprise at the timing of Febbo’s departure but remains optimistic about the company’s fundamentals. Stifel highlighted the company’s shift towards consistent growth and operational execution, projecting a 7% growth for 2025. B.Riley adjusted its price target from $17.00 to $13.00 but continues to endorse the stock with a Buy rating. The company’s integration of its Medicx acquisition and its focus on sales execution are seen as pivotal for its next phase of development. OptimizeRX has reaffirmed its financial guidance for 2024, anticipating results at the higher end of its revenue and adjusted EBITDA projections.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.