Cameron Munter, Director of CareCloud, Inc. (NASDAQ:CCLD), recently sold 30,000 shares of the company's common stock. The transaction, which occurred on December 11, 2024, was completed at a price of $4.10 per share, for a total consideration of $122,999. The sale comes as CareCloud, which has a market cap of $55.7 million, has shown strong momentum with a 357% return over the past year, despite a recent 13% decline last week. Following this sale, Monter now directly owns 159,000 shares. The move comes amid ongoing developments at CareCloud, a company known for its pre-packaged software services. according to InvestingPro By analysis, the company maintains an “outstanding” financial health score, with analysts setting a high price target of $6.00. InvestingPro subscribers have access to 12 additional investment tips and comprehensive analysis of CCLD.
In other recent news, CareCloud, a healthcare technology company, has seen a series of important developments. Roth/MKM recently downgraded CareCloud stock from buy to neutral, setting a new price target of $3.50, citing weak 2025 growth outlook despite recent cost-cutting measures. This rating change comes on the heels of the company's third-quarter revenue report of $28.5 million, meeting analyst expectations, and an increase in adjusted EBITDA to $6.8 million.
On the financial front, CareCloud announced full repayment of its credit line and plans to resume dividend payments in March 2025. Despite the slight decline in revenue, the company's third-quarter earnings report showed a significant increase in free cash flow, reaching $10.3 million. An increase of 328% year-on-year.
In terms of strategic updates, CareCloud is focused on growth and operational efficiency with its CareCloud CirrusAI platform and in-house remote patient monitoring (RPM) solution. The company remains committed to its vision of transforming healthcare technology and delivering shareholder value. These are the latest developments in CareCloud's ongoing journey.
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