 Looking into the current session, Apyx Medical Inc. NASDAQ: APYX shares are trading at 5.60, after a 17.22 spike. Moreover, over the past month, the stock increased by 19.72, but in the past year, fell by 2.39. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session.The stock is currently above from its 52 week low by 99.75. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Medical Devices stocks, and capitalize on the lower share price observed over the year.The PE ratio measures the current share price to the companys earnings per share. It is used by long-term investors to analyze the companys current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as SP; 500. A higher PE indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also shows that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future.Most often, an industry will prevail in a particular phase of a business cycle, than other industries.Apyx Medical Inc. has a lower PE than the aggregate PE of 6.44 of the Medical Devices industry. Ideally, one might believe that they might perform worse than its peers, but its also probable that the stock is undervalued.PE ratio is not always a great indicator of the companys performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga 17 Healthcare Stocks Moving In Tuesdays Pre-Market Session Apyx Medical: Q1 Earnings InsightsC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 