Vivos Inc (OTCMKTS:RDGL) CEO and President Michael K. Korenko has recently made a notable investment in the company's stock. On July 29, the executive purchased 50,000 shares of Vivos Inc common stock at a price of $0.0935 per share, totaling an investment of $4675.
This transaction reflects a vote of confidence from Korenko in the company's future, as he increased his holdings to a total of 10,185,090 shares following the purchase. The acquisition of these shares was executed directly, indicating a straightforward addition to Korenko's existing stake in the company.
Investors often keep an eye on insider transactions like these, as they can provide insights into the leadership's perspective on the company's valuation and prospects. With the CEO further investing in the company, market watchers may interpret this as a positive signal regarding Vivos Inc's potential.
Vivos Inc, known for its specialization in surgical and medical instruments and apparatus, trades under the ticker RDGL on the OTCMKTS. The company has a history of innovation in its field and continues to pursue advancements in medical technology.
As with any insider transaction, the details of the purchase are made available to the public to ensure transparency and allow investors to make informed decisions based on the actions of company executives.
InvestingPro Insights
Following the notable insider purchase by Vivos Inc (OTCMKTS:RDGL) CEO Michael K. Korenko, the company's stock performance and financial metrics provide additional context for investors. According to InvestingPro, Vivos Inc has experienced a significant price uptick over the last six months, with a 144.77% increase, and maintains a strong return over the last year at 134.39%. Despite these impressive returns, the company has seen a recent decline, with the stock taking a considerable hit over the last week, showing a -11.56% price total return.
InvestingPro data indicates a challenging financial landscape for Vivos Inc, with a revenue decline of -38.98% in the last twelve months as of Q1 2024. Additionally, the company's gross profit margin stands at -33.33%, which aligns with the InvestingPro Tip highlighting the company's weak gross profit margins. The market cap of Vivos Inc is currently at $39.17 million USD, with the stock trading at a previous close price of $0.15 USD.
Investors considering Vivos Inc may also take note of the InvestingPro Tips that analysts anticipate a sales decline in the current year, and the stock is trading at a high revenue valuation multiple. For those looking to delve deeper into Vivos Inc's financials and stock performance, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available, which can be accessed by subscribing to the service. Interested readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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