RICHLAND, WA – Vivos Inc (OTCMKTS:RDGL) CEO and President, Michael Korenko, has made a notable investment in the company's stock, purchasing shares valued at $8,435. The transaction, which occurred on June 4, 2024, involved the acquisition of 50,000 shares of common stock at a price of $0.1687 each.
This purchase increases Korenko's stake in the company significantly, bringing his total ownership to 10,135,090 shares of Vivos Inc. This move by the CEO demonstrates a strong vote of confidence in the future of the company, which specializes in surgical and medical instruments and apparatus.
Investors often keep a close eye on insider transactions as they can provide insights into how the company's top executives view the stock's value and prospects. While insider buying does not guarantee future stock performance, it can be a sign that those with the most knowledge about the company anticipate positive developments.
Vivos Inc, previously known as Advanced Medical Isotope Corp, is incorporated in Delaware and has its business office located in Richland, Washington. The company is known for its focus on the healthcare sector, particularly in providing innovative solutions in the medical field.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission. It's important for investors to note that such filings are routine and are required by law for insiders, and they provide transparency regarding their transactions in the company's securities.
Investors and shareholders of Vivos Inc will likely monitor the company's performance and any future transactions by insiders to gauge the company's trajectory and the confidence level of its leaders.
InvestingPro Insights
As the CEO of Vivos Inc (OTCMKTS:RDGL) demonstrates confidence in the company by increasing his stake, a deeper look into the company's financial health and market performance may offer additional insights for investors. According to InvestingPro data, Vivos Inc's market capitalization stands at a modest $69.14 million. Despite the CEO's recent stock purchase, analysts are anticipating a sales decline in the current year, which may be a point of consideration for potential investors.
Moreover, the company's gross profit margins have been weak, as reflected by a gross profit margin of -33.33% for the last twelve months as of Q1 2024. This indicates challenges in maintaining profitability relative to revenue. Additionally, the stock has experienced significant volatility, with a notable decline of -19.88% over the last month, but an impressive return of 185.71% over the last three months, which could suggest a recovery or a short-term positive trend.
InvestingPro Tips highlight that Vivos Inc is a niche player in its industry and has not been profitable over the last twelve months. However, it's worth noting that the company's liquid assets exceed its short-term obligations, which could provide some financial stability in the short term. For investors looking for a more comprehensive analysis, there are 11 additional InvestingPro Tips available, which can be accessed through the company's dedicated page at https://www.investing.com/pro/RDGL. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering valuable insights for those considering an investment in Vivos Inc.
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