ProPhase Labs, Inc. (PRPH) Announces Earnings Results
ProPhase Labs, Inc. (NASDAQ:PRPH) issued its quarterly earnings results on Monday. The company reported ($0.05) earnings per share for the quarter, Bloomberg Earnings reports. ProPhase Labs had a return on equity of 54.87% and a net margin of 270.98%.
ProPhase Labs (NASDAQ PRPH) remained flat at $$2.25 during mid-day trading on Tuesday. The company’s stock had a trading volume of 44,400 shares, compared to its average volume of 22,938. ProPhase Labs has a 1 year low of $1.78 and a 1 year high of $2.45. The company has a market cap of $36.38, a price-to-earnings ratio of 2.71 and a beta of 0.15.
ProPhase Labs announced that its board has approved a stock buyback program on Tuesday, August 15th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through a tender offer. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Separately, ValuEngine cut shares of ProPhase Labs from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th.
In other news, major shareholder Braden Michael Leonard sold 1,695,305 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $2.30, for a total value of $3,899,201.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ted William Karkus sold 364,950 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $2.30, for a total transaction of $839,385.00. Following the completion of the sale, the chief executive officer now owns 2,309,638 shares of the company’s stock, valued at approximately $5,312,167.40. The disclosure for this sale can be found here. Insiders sold a total of 2,423,255 shares of company stock valued at $5,573,487 in the last 90 days. Company insiders own 29.60% of the company’s stock.
About ProPhase Labs
ProPhase Labs, Inc manufactures, markets and distributes a range of homeopathic and healthcare products. The Company is engaged in the research and development of over-the-counter (OTC) drugs and natural base health products, including supplements, personal care and cosmeceutical products. The Company’s products include TK Supplements and ORXx Complete.
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