John Daly, a director at CareCloud, Inc. (NASDAQ:CCLD), recently sold 10,000 shares of the company's common stock. The healthcare technology company, with a market capitalization of $57 million, has shown remarkable performance with a 236% return over the past year. The shares were sold at an average price of $3.65 per share, amounting to a total transaction value of $36,500. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with a "GREAT" overall financial health score. Following this sale, Daly retains ownership of 66,750 shares in the company. The sale was executed on December 2, 2024, as per the latest SEC filing. For deeper insights into CCLD's valuation and 11 additional key investment tips, check out the comprehensive Pro Research Report on InvestingPro.
In other recent news, CareCloud, a healthcare technology company, has experienced a series of significant developments. Despite meeting third-quarter revenue expectations with $28.5 million, Roth/MKM has downgraded CareCloud's stock from Buy to Neutral, citing weak growth projections for 2025. This downgrade comes even as the company's cost-cutting measures have enhanced cash generation.
In terms of financial performance, CareCloud reported an increase in its adjusted EBITDA for the third quarter, rising from the previous quarter's $6.2 million to $6.8 million, surpassing analysts' estimates. This has positioned the company to consider resuming payment of its preferred dividends by March 2025.
Despite a minor dip in third-quarter revenue, the company reported a significant increase in adjusted EBITDA, which rose 111% year-over-year to $6.8 million. Free cash flow also improved considerably, reaching $10.3 million, a 328% increase from the previous year. The company also announced plans to fully repay its credit line and resume dividend payments in March 2025.
CareCloud is focusing on growth and operational efficiency through its CareCloud CirrusAI platform and an in-house remote patient monitoring solution. Despite some challenges following the acquisition of medSR, the company remains committed to its vision of transforming healthcare technology. These are the recent developments in CareCloud's ongoing journey.
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