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Tag: TRxADE HEALTH Stock

  • How Did The TRxADE (MEDS) Stock Rise 75%?

    TRxADE HEALTH, Inc. (NASDAQ: MEDS) experienced a significant boost in its stock value, surging by 75.98% during early trades on Wednesday, and reaching $11.65 per share at last check. This impressive rise came on the heels of the announcement of the release date for the company’s financial results.

    Looking ahead, TRxADE (MEDS) is set to unveil its financial results for the second quarter of 2023 after the market closes on August 14, 2023. The details of the financial performance will be made public through a press release, scheduled for dissemination after regular stock market trading hours on the same day as the conference call.

    In connection with the financial disclosure, a conference call hosted by MEDS’ management is scheduled for 6:00 p.m. Eastern time on August 14th, 2023. During this call, they will delve into the specifics of the second quarter’s financial performance and address any related inquiries.

    In recent news, TRxADE completed the acquisition of Superlatus, Inc., a U.S.-based holding company with a focus on food products and distribution capabilities.

    According to the amended and restated agreement and plan of merger, shareholders of Superlatus were granted 136,441 shares of MEDS common stock, representing 19.99% of the total issued and outstanding MEDS common stock at the time of the merger’s closing.

    Additionally, they received 306,855 shares of a new class of MEDS non-voting convertible preferred stock, with a conversion ratio of 100 to one, based on their pro rata percentage ownership.

    In a move to benefit its shareholders, on July 28, 2023, TRxADE issued non-transferable rights, offering one share of MEDS common stock at no cost, with seven (7) MEDS Rights allocated per share of TRxADE common stock held as of the same date.

    The eligibility for these rights extended to both existing MEDS shareholders and independent directors who were entitled to a certain amount of MEDS common stock as part of their 2023 annual compensation. Notably, this issuance was independent of whether the common stock had been issued or vested before July 28, 2023.

  • TRxADE HEALTH, Inc. (MEDS) Stock Dips Significantly Following Disclosure of Q2 2021 Financial Reports

    TRxADE HEALTH, Inc. (MEDS) stock prices were down 4.01% as of the market closing on July 26th, 2021, bringing the price per share down to USD$5.26 at the end of the trading day. Subsequent premarket fluctuations saw the stock plummet by 19.20%, bringing it down to USD$4.25.

    Expanding Consumer Base

    MEDS stock continued to allocate resources toward the expansion of its drug procurement marketplace over the course of Q2 2021. The quarter reported having added roughly 195 new registered members, bumping the total number of registered members up to more than 12,700. The company also signed various enterprise retail partnerships to onboard new customers to its telehealth platform, partnering up with the likes of Brookshire Grocery, Winn-Dixie, and Big Y. MEDS stock’s Bonum Health product is now offered in 500 stores across all 50 states, increasing accessibility to its thousands of customers.

    MEDS Stock’s Partnerships

    MEDS stock also secured a group purchasing agreement with QualityCare Pharmacies, an independent pharmacy prescription drug buying group. QualityCare is the newest part of the company’s rapidly expanding GPO offering, aimed to drive substantial gains in wallet share amongst independent pharmacies on the TRxADE platform. MEDS stock also launched a government-oriented health passport solution with an accompanying mobile app, facilitating the expedition of post-Covid-19 reopening.

    MEDS Stock Revenue Reports

    Revenues for Q2 2021 were up to USD$1.9 million, down from the USD$6.6 million in the same quarter of the prior year. This year-over-year decrease was largely driven by non-recurring sales of personal protective equipment (PPE) in the 2020 quarter, in relation to global efforts to manage the outbreak of the Covid-19 pandemic.

    Additional Financials

    The second quarter of 2021 saw MEDS stock report gross profits in the amount of USD$0.8 million, representing 44.3% of the quarter’s revenues. This is comparable to the USD$2 million reported for the prior-year quarter, representing 30.4% of revenues. The substantial year-over-year increase in gross profit margin was largely driven by fewer lower margin PPE sales in the 2021 quarter. Operating expenses for the second quarter of 2021 came in at USD$3.4 million, up from the USD$2.5 million reported in the prior-year quarter. This increase was largely driven by an inventory investment loss of USD$1.2 million.

    Future Outlook for MEDS

    Armed with its expanding network of strategic collaborations and the success of its most recent financial reports, MEDS stock is poised to continue its trajectory of success. The company is keen to allocate resources so as to usher in further growth, with investors hoping for long-term increases in shareholder value.

  • 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.