Milestone Scientific Inc (NYSE – AMERICAN: MLSS), which is involved in the fast-growing computerized medicine delivery space, has seen its stock consolidate somewhat in recent times creating a strategic buying opportunity . $7.00 Target Reiterated By Maxim
It is important to note that in recent days the stock has managed to gain momentum at those lower levels, and hence, it could be a good move for investors to look into the company a bit more closely. There has not been a lot of news regarding the company in recent days. In order to get a better idea about Milestone Scientific, investors could consider taking a look at the company’s performance in the first fiscal quarter. Maxim Securities places
LATEST QUARTER PRODUCED REVENUE GAIN OF OVER $1 MILL
In the quarter that ended on March 31, 2021, the company managed to generate revenues of $2.9 million, which considerable growth from the revenues of $1.8 million generated in the quarter that ended on March 31, 2020. In this regard, it is important to note that as much as $1 million in revenues was contributed by the dental business.
The growth in the dental business was due to Milestone’s move to establish dental offices across the United States as well as in China and in other nations. The gross profit for the period declined to $1.8 million and that was primarily due to the lower margins generated from the sales in China. On the other hand, the operating losses for the quarter came in at $1 million, which was lower than the losses of $1.6 million in the prior-year period.
NEW CEO AT THE HELM
Back in May, the company also provided an update with regard to its succession plan. After Leonard Osser stated that now at age 73 he will retire shortly from his position as the interim Chief Executive Officer of Milestone Scientific, the company decided to promote Jan Adriaan Haverhals to the position. At the time Haverhals was also the President of the company and it was decided that he was going to serve in both roles.
EUROPEAN PATENT OFFICE APPROVAL
Another significant development for Milestone Scientific came about in March this year that it got a notice of allowance from the European Patent Officer for one of its applications.
The application was regarding the use of DPS Dynamic Pressure Sensing Technology and monitoring of injection pressure through Milestone’s CompuFlu for the optimization of needle tip location when it comes to PNB procedures guided by ultrasound. That was another significant news regarding Milestone Scientific. However, now that the stock is again gaining momentum, investors need to be on the lookout for any fresh news about the company.