Progressive Care (USA: $RXMD) Is A Top Choice Penny Stock 👌Progressive Care, Inc., through its subsidiary, Pharmco, LLC, provides prescription pharmaceuticals to individuals and institutions in south Florida. The company operates a retail pharmacy that specializes in the sale of anti-retroviral medications and related patient care management; the sale and rental of durable medical equipment (DME), such as hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories; and the supply of various prescription medications to long term care facilities. It also provides long term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors' offices, and clinics. In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long term care customers. Further, it offers computerized maintenance of patient prescription histories; third party billing; consultant pharmacist services consisting of evaluation of monthly patient drug therapy and monitoring the institution's drug distribution system, as well as home service and maintenance, defective product replacements, and free home installation and instruction services; and data analytics services to support health care organizations. Progressive Care, Inc. was founded in 2005 and is based in Hallandale Beach, Florida.
RXMD
$RXMD Springs Off Key Support into Major Telehealth AcquisitionRXMD retesting key support on a strong price flush to shake out weak hands. This comes as the company acquires a leading Telehealth platform and readies to expand its operational reach to all 50 US states (from 14) while on pace to record a projected $50 million in 2020 revenues.
Progressive Care Inc. (OTCMKTS:RXMD) is making moves that place it at the heart of the Telehealth shift, especially with its recent move to acquire MyApps, which is the sole owner of the popular telehealth service, app CallingDr™ (www.callingdr.com).
CallingDr™ is a fully-launched virtual platform providing multiple levels of service with a suite of products, including the capability to allow patients to take ownership of their own health records and provide access to health information through the related app and patient portal.
The reach already includes hundreds of medical practices in multiple states, including gastrointestinal, internal medicine, psychiatry, pulmonology, cardiology as well as remote clinics and in-patient settings. Customers include single-physician clinics, multi-physician clinics, emergency room centers, nursing homes, and home health setups.
CallingDr™ was ranked in the top ten list of patient engagement solution providers by Healthcare Tech Magazine in 2019, it’s already been integrated into top connected medical devices such as Thinklab’s Stethoscopes, it has already gotten into big systems like PointClickCare, the leading cloud-based Electronic Health Record (EHR) software designed specifically for the long-term care providers system, and it has accolades, including Technology Innovators, a leading tech-based digital publication, which listed CallingDr™ as one of the top 20 Innovators in Telemedicine for 2020.
$RXMD Sets Up Potential Base Breakout AheadRXMD shares have been trending higher over the past two months, forming a base with the potential to break out significantly higher on a move back above the $0.07 level.
This follows another spectacular quarter with Q2 numbers out earlier this week. The company is also transitioning at the top spot, with a CEO change underway to position RXMD for an uplist onto a major exchange.
$RXMD Continues to Show Traction and TrendRXMD is a stock we liked a lot back at the start of July. And we still like it. The company continues to expand in its FL Covid testing range and it keeps putting up monster growth data.
The breakouts are coming in a stepwise trend. And the company has signaled a coming potential Nasdaq uplist.
$APT Jumps on Virus Data.. But Where Next?APT was a play we signaled back in the $18.50 area as a possible breakout R/R setup. Now, we have seen $25 as virus numbers rip, but many other PPE sources have come along.
Longs don't want to see $20 breached to the downside from here.
$RXMD Technicals Line Up as Antibody Testing Demand Soars in FLRXMD is sporting a number of positive technical attributes, including a successful hold as former breakout resistance became viable support in mid-June at the $0.04 level in confluence with new bull trendline support and a 40 oversold RSI print. That has been followed by an aggressive breakout back above both the 50- and 200-day major MA's.
The company has been benefitting from a surge in demand for its rapid-results antibody test kits (COVID-19 IgG/IgM) registered through the FDA under its Emergency Use Authorization guidelines for conducting SARS-CoV-2 antibody presence and COVID-19 infection diagnosis testing.
Progressive Care Inc (OTCMKTS:RXMD) promulgates itself as “a personalized healthcare services and technology company”. Do a little digging and you find this is a company that has been showing strong top and bottom-line growth in the regional pharmacy services space, but is now increasingly set to expand operations into telemedicine, ecommerce, and a range of scalable growth strategies while maintaining its footprint in the Florida pharmacy services space.
The company has put up impressive numbers, with consolidated monthly gross sales across all locations during May totaling $3 million, representing year-over-year growth of 67%. It was 54% the month before, and 105% in March. And it was even better before the pandemic hit.
The Covid-19 health crisis is clearly far from over, as recent case data shows, loud and clear. Florida is one of the new epicenters for the disease, and RXMD is based there, at the new ground zero. Its ability to offer a critical service and product in the midst of this storm is likely starting to pay off for the company and holds strong potential for its shareholders.
“As major operations begin to reopen in our communities, experts believe diagnostic and antibody testing will be crucial in identifying vulnerabilities and creating safer and more productive public living conditions,” commented S. Parikh Mars, CEO of Progressive Care. “We believe it is imperative that we provide the public health resources necessary to stem the tide of this pandemic.”
$RXMD Rallying Off Buy Signal at Key Support in Telehealth SpaceRXMD has double-bottom key support lined up with a major MACD buy signal after breaking above its recent downtrend line in yesterday's action. This is a Coronavirus play at the leading edge in both telehealth and home pharmacy delivery.
• Telehealth regulations have been dropped to allow it to brace our healthcare system against exponential COVID-19 case growth.
• RXMD is currently priced at 0.5x trailing sales, which is extremely cheap, even for a pharmacy play.
• This is especially true given that it just posted 56% top-line growth and is moving toward the likely launch of a telemedicine platform.
• RXMD is moving toward a NASDAQ or NYSE uplisting.
$RXMD Massively Underpriced and Oversold at Key SupportRXMD is in a clear bullish technical posture: at key support with multiple touches over two years and an RSI print under the "30" bull signal level. In other words, it's oversold and triggering key support in a very large time-frame bull trend.
• Telehealth regulations have been dropped to allow it to brace our healthcare system against exponential COVID-19 case growth.
• RXMD is currently priced at 0.5x trailing sales, which is extremely cheap, even for a pharmacy play.
• This is especially true given that it just posted 56% top-line growth and is moving toward the likely launch of a telemedicine platform.
• RXMD is moving toward a NASDAQ or NYSE uplisting.
$RXMD Angling for a Fresh BreakoutRXMD put in a key low on a glaring bullish MACD divergence. Now we see to be angling toward an ascending triangle breakout that could bring the dime level into play.
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Progressive Care Inc (OTCMKTS:RXMD)
Progressive Care has been putting up huge growth data in recent months, vaulting onto our radar as one of the most interesting penny plays out there. As it stands, this stock is likely not going to be on the OTC much longer, with an S-1 due in early Q2 along with an application to uplist onto the Nasdaq or NYSE.
The company operates a retail pharmacy that specializes in the sale of anti-retroviral medications and related patient care management; the sale and rental of durable medical equipment (DME), such as hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories; and the supply of various prescription medications to long term care facilities.
It also provides long term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors’ offices, and clinics. In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long term care customers.
Further, it offers computerized maintenance of patient prescription histories, third party billing, and consultant pharmacist services consisting of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system, as well as home service and maintenance, defective product replacements, and free home installation and instruction services.
Multiple Indicators Signal Imminent $RXMD Breakout to ComeRXMD has the big breakout lined up well at this point, with accumulation/distribution indicator rising through a basing process that displays a clear shift in trend from down to up, further confirmed by Ichimoku Cloud signal.
This is percolating, with the key line to set off the fireworks at $0.07. Once it gets there, you won't be able to catch up to it. Smart money is seeing it now.
$RXMD Set for Another Major Breakout?RXMD
The RXMD chart continues to look ripe for potential upside. The key to this pattern is the pivot at the higher low around Thanksgiving in the nickel/share area. That came at the 61.8% Fib retrace zone with the 50-day MA providing support along with the retest of the broken down trend line. The stock has been ripping in recent days and looks set to try for a test of the dime area ahead.
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On growth, the action in shares of Progressive Care Inc. (OTCMKTS:RXMD) suggests a healthy and well-earned consolidation coming to an end following a big surge higher in November. Traders are looking for the next directional move, and the company may have just offered up a key catalyst that suggests that next direction is likely going to be “higher”.
Specifically, the company just reported its December performance data and pointed to a beat of $32 million in full-year 2019 sales.
In December, the company saw consolidated monthly gross sales across all locations totaling $3.1 million, representing year-over-year growth of 82% compared to December 2018. That came on about 45K filled prescriptions, which were also up big y/y (growth of 59%). In addition, the company set a new record for its third-party billing services for not-for-profit client organizations, generating an additional $1 million in total transactions during the month.
That helped it to better than $32 million in 2019 sales (up 54% y/y) on more than 450K prescriptions filled (up 50% y/y), with its recent FPRX acquisition contributing from June 1 through December 31, 2019 to boost those numbers.
“We closed out 2019 with another month of tremendous growth and execution,” commented S. Parikh Mars, CEO of Progressive Care. “December featured organic same-store growth in our core footprint in both sales and cash flows as well as additional strength from our seamless integration of recently acquired Family Physicians Rx (FPRX), which has begun to move the needle on all fronts. If we back in the FPRX impact on an annualized basis into 2019, that gives us a baseline of $38 million in annual sales as a point of reference from which to grow in 2020.”
$RXMD Heads Into Primary Uptrend ModeRXMD
The action in shares of Progressive Care Inc. (OTCMKTS:RXMD) has been the action of a stock that is coming to terms with a new phase of trend: a strong bullish upward trend. The technical signals on display here are very clear as we read the tea leaves.
The lowest low – back in early November – came off of a type-specimen bullish MACD divergence, which led to a break of the downward trend and an explosive move higher. However, that rally was ‘corrected’ by the market, as all rallies are. What’s important is where that rally checked back to: On a closing basis, the pullback found confluence at the 61.8% fib level, the topside of the broken downtrend line, and the 50-day simple moving average.
From there, we have seen a strong bid come into place with more aggressive upside. That’s exactly what you want to see.
$RXMD Shares Flash Major Uptrend SignalRXMD
RXMD shares have held on the retest of the topside of the broken downward trend following bullish signals on both RSI and MACD.
That's a huge technical signal supporting the thesis that a major new upward trend is now underway in the stock following the established "higher low" support.
On the conference call following its Q3 report, the company discussed its vision for the future, and noted that a dramatic realignment toward a scalable model with national reach is in progress, including a transformation from a pharmacy model to a comprehensive health services model that includes significant expansion in products and services, including RXMD Therapeutics branded products in the CBD and nutraceutical space, as well as a defining expansion into the Telehealth marketplace.
The company believes its vision for monetization in telemedicine has the potential to be disruptive in the healthcare space, and will have powerful synergies with its existing legacy pharmacy business and its emerging RXMD Therapeutics.
The opportunity to capitalize on its in-house expertise to expand through disruptive technology while providing needed care and services to underserved populations is a powerful step that will drive shareholder value while achieving a tremendous positive social impact. Targeting a leadership position in this market will be a signature objective for the Company in 2020.
“Get ready for a transformation,” continued Mars. “We are extremely excited about the opportunity to monetize telemedicine in a manner that will truly change the game as it is currently played. We look forward to introducing current and prospective shareholders to this vision in the months ahead. 2019 has been a breakout year. But the core message that we have right now for our shareholders is this: expect a transformative evolutionary leap to a vastly more scalable, diversified, and higher margin Progressive Care in 2020 and beyond.”
$RXMD Pulls Back to "Sweet Spot" Buy ZoneRXMD
Sometimes, everything lines up just right. That's the case for RXMD right now, as the stock tests the top side of its former -- now broken -- down trend line, which was shattered last month after an explosive upside triggering of a big MACD Bull Divergence Buy Signal, which we covered at the time.
That was the first big opportunity. This is the second.
One thing that gives us extra confidence right now is the company's underlying fundamental strength. Progressive Care Inc. (OTCMKTS:RXMD) is an OTC stock, but the company’s financial performance puts it in a different class from other similar names. RXMD just set a host of new records in its latest quarterly report, including total sales, gross profitability, and prescriptions filled.
RXMD shares advanced as much as 130% in November, and closed the month up by just over 50%. However, at the same time, new investors might have the opportunity to benefit from a shakeout of about 40% over the past 6 days of trading.
Progressive Care Inc (OTCMKTS:RXMD) provides prescription pharmaceuticals to individuals and institutions in south Florida through its Pharmco subsidiary. But the company is also rapidly angling toward a more diversified health services model, with proprietary branded CBD products and a disruptive telehealth strategy.
The company just reported 91% y/y top-line growth in Q3 and is already reporting even faster growth in Q4.
The CEO, S. Parikh Mars, said: “The annualized pace we set in October equates to new records across the board as we continue to see broad-based top-line expansion on improving margins. Our $3.4 million in overall sales for October is an understatement because it leaves out the cash flows we took in during the month related to third-party billing activity. With all factors included, the number of gross billing would be closer to $4.2 million. And our 46k prescriptions filled puts Q4 on pace to handily surpass our breakout Q3 performance already. Execution continues to be tremendous, and I am very proud of our talented and dedicated team.”
According to that release, the Company achieved over $3.4 million in overall October sales (not including an additional $800,000 third-party related billing activity), representing 78% annual growth in sales compared to October 2018, and 10% monthly growth in sales on a sequential monthly basis.
$RXMD Offers a Fresh Buying Opp in New Bull TrendRXMD
Of course there will be some folks wanting to bank some profits here -- the stock was up as much as 135% this month alone, and is still up over 70% in November. But the technical action suggests a new, fresh bullish trend now underway, meaning that the opportunity here will be to take advantage of pullbacks.
The fundamental trend has changed as well, with the company recently reporting a breakout quarter in Q3 and guiding Q4 to the moon.
Progressive Care Reports October 2019 Performance: Q4 on Record Pace with Expanding Margins
Press Release | 11/19/2019
MIAMI, FL, Nov. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Progressive Care Inc. (OTCQB: RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is excited to report another month of exceptional growth and expanding margins. October sales and prescriptions filled set a new record performance pace for Q4 results.
“The annualized pace we set in October equates to new records across the board as we continue to see broad-based top-line expansion on improving margins,” stated S. Parikh Mars, Progressive Care CEO. “Our $3.4 million in overall sales for October is an understatement because it leaves out the cash flows we took in during the month related to third-party billing activity. With all factors included, the number of gross billing would be closer to $4.2 million. And our 46k prescriptions filled puts Q4 on pace to handily surpass our breakout Q3 performance already. Execution continues to be tremendous, and I am very proud of our talented and dedicated team.”
$RXMD Blasts Off on Breakout QuarterRXMD
$RXMD shares are going nuts today on big volume after company reported explosive growth for Q3 and outlined an ambitious initiative to disrupt the multi-billion dollar telehealth opportunity.
The stock has already blown through downtrend resistance and range resistance and there may be nothing but upside ahead given that we are talking about shares that entered the day trading at less than 0.5x forward sales (vs industry comps many times that).
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“Q3 set new records across basically all metrics, and we expect to report our first quarter of operating profitability in Q4,” commented S. Parikh Mars, Progressive Care CEO. “We saw accelerating growth in sales and prescriptions while continuing our strong multi-quarter trends of falling costs and expanding gross margins. Beyond the numbers, we are seeing a major positive impact from our recent Family Physicians Rx acquisition, and the Company is firing on all cylinders post-integration. Ultimately, this creates a very favorable backdrop for continued aggressive expansion in the months and quarters ahead as we prepare to launch several powerful new initiatives in Q4 and 2020.”
Third Quarter 2019 Financial Highlights
• Consolidated quarterly year-over-year Revenue Growth of 91% to $10.14 million
• Q3 Gross Margins expanded to 24.4% (versus Q2 22.7%, Q1 19.8%)
• Gross Profit up 128% year-over-year to $2.47 million
• Prescriptions Filled up 52% to 323k for nine months ended Sep. 30 (vs 2018 comparable period)
• Prescriptions Filled up 70% to 136k in Q3, on quarterly year-over-year basis
• Cash level up 774% year-to-date to $759,016
• Accounts Receivable up 96% year-to-date to $2,372,177
• Company expects to be profitable on EBITDA basis in Q4 2019
Third Quarter 2019 Business Highlights
• Achieved record performance in Q3 driven by expanding operations, targeting higher margin strategies, and M&A
• Renegotiated Family Physicians Rx (FPRX) acquisition, reducing price by 36%, saving shareholders $1.1 million
• FPRX renegotiation generates $400k reduction in existing and outstanding liabilities and significant reduction in outstanding shares (10 million)
• Realized Maximum benefits at 3 of 4 locations in Q3, driving $180K in returned fees
• Will begin shipping proprietary branded CBD-based products by January 2020
• Anticipates full SEC-reporting status by April 2020 as prefatory step to planned major US exchange listing
• Plans transformative expansion into Telehealth marketplace with disruptive monetization model in 2020
$RXMD Running on Huge MACD Bull SignalRXMD
The technical verdict is in on RXMD: the upside looks like the right side following confirmation of last week's MACD bullish divergence signal.
About RXMD
RXMD (Progressive Care Inc.) operates a retail pharmacy that specializes in the sale of anti-retroviral medications and related patient care management; the sale and rental of durable medical equipment (DME), such as hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories; and the supply of various prescription medications to long term care facilities. It also provides long term care solutions to skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors' offices, and clinics.
In addition, the company purchases, repackages, and dispenses prescription and non-prescription pharmaceutical products for its long term care customers.
It also offers computerized maintenance of patient prescription histories; third party billing; and consultant pharmacist services consisting of evaluation of monthly patient drug therapy and monitoring the institution's drug distribution system, as well as home service and maintenance, defective product replacements, and free home installation and instruction services.
Key Points:
• RXMD is on point as a leading speculative play on concerns around the future of the healthcare sector for all involved stakeholders
• RXMD is making real money, with trailing revs already coming in at $22.8M.
• RXMD is starting to see major topline growth, with quarterly y/y revs increasing at 37%.
• RXMD is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
• RXMD just recorded a MACD Bullish divergence and reversal, suggesting a technical change in trend back to the upside off a very important technical support level.
$RXMD Shares Multiple Buy Signals on Big CatalystsOTC:RXMD
As both oscillators and trend indicators click into "Buy Signal" territory, company has a very well-framed narrative coming into place that deserves a closer look:
Key Points:
• RXMD is on point as a leading speculative play on concerns around the future of the healthcare sector for all involved stakeholders
• RXMD is making real money, with trailing revs already coming in at $22.8M.
• RXMD is starting to see major topline growth, with quarterly y/y revs increasing at 37%.
• RXMD is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
• RXMD just recorded a MACD Bullish divergence and reversal, suggesting a technical change in trend back to the upside off a very important technical support level.
RXMD has a strong technical case as a current speculative play for market participants based on our analysis. In addition, the company sits at the crossroads of one of the most contentious issues of our time, and it’s making it work, with huge revenue growth and strong performance that is quantitatively improving on even a monthly basis.
With its new cannabinoid segment, the company is also a firm new entity in the explosive Hemp and CBD marketplace, where recent projections suggest explosive growth of as much as 125% CAGR looking out the next half-decade.
Thematically, technically, and fundamentally, RXMD has the numbers and the story to make a major splash from current levels,
RXMD price near to strong support lineRXMD price near to strong weekly support line. possibly buy. wait for 123 pattern for confirmation. I also watching this one .
RXMD price consolidatingRXMD price consolidating on weekly chart. wait for breakout for entry. I also watching this one .
Shorting The Uptick Tomorrow, Half, Holding Other Half For .10Currently valued at 17 million, but the company isn't pulling a profit. The "record" increase in sales was marginal. The bitcoin announcement is what is fueling this sudden increase, but they only apply for $500 000 limit, which only adds 2.5% to their revenue stream. They only have 2 stores...
You can see the momentum increase follows the fibonacci perfectly, which indicates the move is purely being driven by speculators. They also attempted to seek out an M&A, but failed to do so
$RXMD probably will pullback to 0.03 before breaking outWould look to add at 0.03 for next attempt at breaking out of the triangle. However, if it does breakout before pulling back significantly, would look to add at ~0.04 for a pullback confirming the breakout.
