Stavros Vizirgianakis (Insider Trades), interim CEO and 10% owner of Misonix Inc. (MSON), acquired 761,469 shares in the company on Oct. 25. The price per share was $5.25 for a total transaction of $3,997,712.
Misonix, an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine, skull and cosmetic surgery, has a market cap of $45.39 million.
Including the aforementioned transaction, Vizirgianakis made one other insider trade since 2013 – a purchase of 69,509 shares at a per share price of $5.70.
Year to date there have been only two insider trades including Vizirgianakis’. The number and volume of insider buys from 2013 to 2015 did not follow a linear increasing or decreasing trend overall. There were six insider buys totaling 63,750 shares in 2013, seven insider buys totaling 162,452 shares in 2014 and five insider buys totaling 60,100 shares in the following year.
The number and volume of insider sells, on the other hand, increased each year from none in 2013 to 10 transactions totaling 105,708 shares in 2014 and 18 insider sells totaling 111,610 shares in 2015. For more information about insider trades with Misonix, click here.
The company reported net sales of $5.426 million in the fiscal third quarter of 2016 ended March 31. The company reported increased net sales in comparison to $5.314 million reported in the three months ended March 31, 2015. Gross profit decreased from $3.644 million to $3.575 million when comparing the same time periods. Net income also decreased from $454,340 in the fiscal third quarter of 2015 to net loss of $679,244 in the fiscal third quarter of 2016. Net income per share was 5 cents and -9 cents for the two quarters.
On Aug. 10 the company announced an exclusive agreement with SonoSpine LLC, an international neurosurgical practice specializing in ultrasonic spine surgery. The collaboration between the two companies will focus on development and implementation of “ultrasonic surgical tools and techniques for the spine which dramatically improve patient outcomes,” according to Dr. Dilantha B. Ellegala, founder and surgeon-in-chief of SonoSpine. Misonix will utilize a joint clinical database to develop devices and also provide metrics for SonoSpine to improve patient care. Misonix will also have access to SonoSpine’s clinical facilities, which will allow it to engineer products from the surgeon’s perspective.
According to GuruFocus.com information, Mixonix has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
During the second quarter of 2016, Jim Simons (Trades, Portfolio) increased his stake in the company by 3.01%, acquiring 5,000 shares at an average per share price of $5.28. The total estimated gain of the holding since the first quarter of 2011 is 5%. For more information about guru trades with Misonix, click here.
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