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Milestone Scientific Inc. (NYSE:MLSS), a $70 million market cap medical device company currently trading at $0.89 per share, experienced a notable transaction as BP4 S.r.l., a major shareholder owning more than ten percent of the company, sold shares over two days. According to InvestingPro data, the company maintains a moderate debt level with a debt-to-equity ratio of just 0.07. On June 3, BP4 S.r.l. disposed of 8,000 shares of common stock at an average price of $0.9369 per share. The following day, June 4, they sold an additional 6,000 shares at $0.9113 per share. The total value of these transactions amounted to $12,963. After these sales, BP4 S.r.l. holds 9,618,457 shares directly. The stock, which has seen a 25% return over the past year, currently appears overvalued according to InvestingPro Fair Value metrics. Subscribers can access detailed analysis and 4 additional ProTips in the comprehensive Pro Research Report.
In other recent news, Milestone Scientific Inc. reported a strong financial position, ending the first quarter with $2.2 million in cash and no debt. Benchmark analysts have maintained a Speculative Buy rating on the company’s shares, reiterating a price target of $1.25. This decision is supported by the company’s strategic plans to expand its Medicare market segment for pain management through its CompuFlo System, which has already secured coverage from three out of twelve Medicare Administrative Contractors. The company aims to obtain coverage from the remaining nine contractors and pursue reimbursement from private payors, potentially increasing the market to nine million procedures annually.
In addition, Milestone Scientific announced the appointment of Shanth Thiyagalingam to its Board of Directors. Thiyagalingam’s extensive experience in the medical device and pharmaceutical sectors is expected to support the company’s growth strategies. His background includes significant roles in commercial scaling and strategic execution, which aligns with Milestone Scientific’s focus on expanding the adoption of its innovative injection technologies. The company’s proprietary DPS Dynamic Pressure Sensing Technology remains central to its product development strategy. These developments reflect Milestone Scientific’s ongoing efforts to enhance its market presence and drive growth.
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