From NASDAQ: 2024-05-30 16:20:08

Semler Scientific’s (SMLR) stock soared by 38% after announcing it holds 581 Bitcoins worth $40 million. The medical tech company, with a $227 million market cap, is off 79% from all-time highs but has returned 360% to shareholders since its IPO in 2014.

Eric Semler, chairman of Semler Scientific, believes Bitcoin’s scarcity and value make it a wise investment. Bitcoin has surged over 20,000% in the last nine years and is seen as an inflation hedge and store of value. Companies like MicroStrategy and Tesla also hold Bitcoin, attracting institutional investments.

Semler aims to focus on core medical products alongside Bitcoin investments. With revenue of $15.9 million in Q1 of 2024, operating expenses down 25% year-over-year, and net income rising, only one analyst covers SMLR stock with a target price of $45, 50.4% above current levels.

Wall Street predicts Semler will end 2024 with adjusted earnings of $1.96 per share. Trading at 17x forward earnings, SMLR stock is expensive as earnings are forecasted to narrow by 27% year over year in 2024.



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