Apyx medical CFO acquires $6k in company stock

CLEARWATER, FL – Apyx Medical Corp (NASDAQ:APYX) reported that its Chief Financial Officer, Matthew C. Hill, has made a significant investment in the company's stock. According to a recent filing, Hill purchased 5,336 shares of Apyx Medical Corp's common stock at an average weighted price of $1.13.

The transaction, executed on August 13, 2024, involved multiple trades with prices ranging from $1.12 to $1.13 per share. The total value of the shares acquired by the CFO amounted to approximately $6,029. This purchase increases Hill's direct ownership in the company to 7,836 shares.

Investors often monitor insider transactions as they can provide insights into the company's financial health and the confidence that executives have in the company's future. The acquisition by Hill might be interpreted by the market as a positive signal, reflecting a potential belief in the company's value and prospects.

Apyx Medical Corp, with its headquarters in Clearwater, Florida, specializes in surgical and medical instruments and apparatus. The company, formerly known as Bovie Medical Corp , has been incorporated in Delaware and operates in the medical technology industry, focusing on products for surgical and other therapeutic applications.

For further details on the transaction, Apyx Medical Corp has stated that full information regarding the number of shares purchased at each separate price will be provided upon request to the issuer, any security holder, or the staff of the Securities and Exchange Commission.

In other recent news, Apyx Medical Corporation reported mixed Q2 results amid market challenges. The company's total revenue decreased by 10% to $12.1 million, with a significant 17% drop in Advanced Energy product sales. However, the company saw a robust 29% growth in OEM product sales. The net loss attributable to stockholders widened to $6.6 million from $1 million year-over-year.

Despite these challenges, Apyx Medical expects stronger growth in the second half of 2024, with a focus on controlling costs and optimizing cash efficiency. The company also reported over a 20% increase in handpiece sales both in the US and internationally, driving growth amid a challenging market for capital equipment sales.

These are recent developments that provide insight into Apyx Medical's performance and strategy. Amid these market conditions, the company continues to focus on increasing awareness and education about its technology while working on direct-to-consumer initiatives and a giveback program called "Renewing Lives."

InvestingPro Insights

Following the news of CFO Matthew C. Hill's investment in Apyx Medical Corp (NASDAQ:APYX), a closer look at the company's financials through InvestingPro data reveals key metrics that may interest investors. With a market capitalization of $37.42 million, Apyx Medical appears to be a smaller player in the medical technology sector. The company's recent performance shows a Price to Earnings (P/E) ratio of -1.29, indicating that it is not currently generating profits. This aligns with one of the InvestingPro Tips, which suggests that analysts do not anticipate the company will be profitable this year.

Investors considering Apyx Medical's stock should note that the company's stock has experienced a significant decline over the past year, with a one-year price total return of -78.22%. This is consistent with another InvestingPro Tip that highlights the stock's poor performance over the last month and six months. Despite the stock's recent setbacks, it is important to note that Apyx Medical's liquid assets exceed its short-term obligations, which may provide some financial flexibility for the company.

For those looking for additional insights, InvestingPro offers more tips on Apyx Medical Corp, which could further guide investment decisions. As of now, there are a total of 9 InvestingPro Tips available, including the company's moderate level of debt and the fact that it does not pay a dividend to shareholders.

The InvestingPro data also shows that Apyx Medical has a Gross Profit Margin of 61.9% for the last twelve months as of Q2 2024, which suggests that while the company is facing challenges, it is still able to maintain a relatively high margin on its products.

Investors may want to keep an eye on the next earnings date scheduled for November 7, 2024, to gain further insight into Apyx Medical's financial trajectory and any strategic initiatives the company may announce.

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