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Tag: TRxADE HEALTH Inc

  • TRxADE HEALTH Inc. (MEDS) stock Soars Premarket on Year-end 2021 Financial Results

    TRxADE HEALTH Inc. (MEDS) stock Soars Premarket on Year-end 2021 Financial Results

    On March 29, TRxADE HEALTH Inc. (MEDS) stock soared high in the premarket with a gain of 27.35% at the last check. This bullishness comes from the company’s latest earnings report shares yesterday. On Monday, the company declared its Q4 and fiscal 2021 results after the market closed.

    Source: US News Money

    It seems investors were looking forward to the earnings with much enthusiasm as the stock increased by 2.63% during yesterday’s regular trading. Investors flocked to the stock before the earnings release to make it trade at a heavy volume of 1,334% of the average at 1.1 million shares. At the close of the session, MEDS had a price of $2.34 per share. Following the announcement, the stock was trading at a value of $2.98 per share in the premarket, at the time of writing. At the last check, the volume of shares exchanged was 335.9K in the premarket.

    The pharmaceutical industry company, TRxADE HEALTH Inc. provides an online platform for pharmaceutical purchasers. Founded in 2005, the company has a market capitalization of $18.62 million. Currently, the company has 8.17 million shares outstanding in the market.

    MEDS’ 2021 Financial Report

    Q4 2021

    For Q4 2021, the company reported revenues of $2.4 million with an increase of 19.7% YOY.

    Moreover, MEDS had a net loss of $0.8 million or $0.10 per share in Q4 2021 against $2.3 million or $0.29 per share in the year-ago period.

    Additionally, the adjusted EBITDA was $0.8 million while the gross profit was $1.24 million (831% increase YOY).

     Fiscal 2021

    For fiscal 2021, the company reported revenues of $9.9 million with a decline of 42.2% YOY.

    Furthermore, the net loss was $5.3 million or $0.65 per share in 2021 against $2.5 million or $0.33 in 2020.

    The adjusted EBITDA was $(3.7) million while the gross profit was $4.7 million.

    Recent Participation

    On March 15, the company announced its participation in the 2022 Virtual Growth Conference. Hosted by M-Vest and presented by Maxim Group LLC, the conference started on March 28 and will end on March 30, 2022. MEDS Chief Executive Officer Suren Ajjarapu was invited to present at the conference on March 30 at 1:30 pm EDT.

    MEDS Other Developments

    On February 23, the company announced a Telemedicine Service Distribution agreement of Bonum Health with Corbon’s Inc. Bonum Health is the company’s digital healthcare business subsidiary while Corbon’s is a regional grocery chain with 120+ Food and Pharmacy Grocery Stores.

  • Why Is TRxADE (MEDS) Stock Skyrocketing Today, Spiking More Than 100%?

    At start of the trading today, shares of integrated drug procurement, delivery, and healthcare platform TRxADE HEALTH Inc. (MEDS) rose 112.26% to $9.36 at the time of this writing.

    TRxADE closed Wednesday’s session at $4.42, down 3.07 percent. MEDS shares traded at 0.28 million, a lower volume than the daily average of 4.26 million shares traded over the last 50 days. In the past year, MEDS share prices have fallen -26.33%, and this week they have declined -4.74%.

    MEDS stock has lost -15.65% over the past three months, while it has lost -18.30% over the past six months. As of June 30, MEDS had an outstanding share count of 8.09 million while its market value was $34.74 million. As its subsidiary launches a new program, the MEDS stock has gained traction.

    What was that program about?

    In the United States, TRxADE is a health services IT company dedicated to optimizing the prescription journey, drug procurement, and patient engagement through technology. TRxADE is a leading drug purchasing marketplace operated by MEDS, providing price transparency to 12,100+ members nationwide. A variety of telehealth services are offered by MEDS under the Bonum Health brand.

    TRxADE Bonum Health, TRxADE’s Digital Health business subsidiary, has signed a deal with Big Y Pharmacy and Wellness Centers in Massachusetts and Connecticut to distribute Telemedicine services.

    • Using Bonum Health’s mobile health services and prescriber program, staffed by more than 600 board-certified medical providers, Big Y pharmacies will be able to provide their patients with affordable telemedicine.
    • The partnership also offers Bonum Health prescription discount savings to Big Y patients.
    • and Connecticut see increasing numbers of uninsured and underinsured consumers, and consumers are clamoring for more affordable healthcare options.
    • Big Y entered into the collaboration to enhance its collaborative care network and to expand its digital healthcare offerings.
    • And Bonum Health could contribute to Big Y’s diversification of digital healthcare in-store and at the community level.
    • Through Bonum’s mobile application, Big Y pharmacies will be able to utilize a turnkey Telemedicine and prescription savings tool.
    • Furthermore, Big Y pharmacy leadership saw an opportunity to offer their patients deeply discounted, low-cost care through Bonum.
    • Additionally, Bonum Health will be expanding Big Y’s prescription discounts, using Bonum’s digital platform, for which Big Y has chosen Bonum Health.

    MEDS’ other development:

    MedCheks, another subsidiary of TRxADE, has recently launched the Health Passport app for iOS devices. With the MedCheks app, one can securely show medical records, such as vaccination records and test results, to gain entrance to a country, establishment, event or mode of transportation that requires proof of health. As COVID-19 subsides in certain markets, TRxADE HEALTH (MEDS) addresses the market need for cost-effective, advanced digital health applications to accelerate the reopening of the economy.