Medavail Hldg Inc Down 17.94% To $0.27 After Earnings Beat

Medavail Hldg Inc (MDVL) said after close Thursday that it lost $0.14 per share in quarter four 2022.

On the revenue line, the company reported $11.4 million, beating estimates by $360 thousand.

In the same quarter a year ago, the company lost $0.38 per share on revenue of $7.3 million.

The stock is down 17.94% to $0.27 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Medavail Hldg Inc a Bullish Sentiment Rank from InvestorsObserver.

Medavail Hldg Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 14, putting Medavail Hldg Inc in the bottom 25% of stocks. The firm set a 52-week low on December 23, 2022 at $0.24 and set a 52-week high on April 21, 2022 at $3.56.

MedAvail Holdings Inc is a telehealth-enabled pharmacy technology company. It operates in two segments: Retail Pharmacy Services and Pharmacy Technology. It generates the majority of revenue from the Retail Pharmacy Services segment, which is into operating SpotRx, a full-service retail pharmacy utilizing MedAvail's automated pharmacy technology, primarily servicing Medicare patients in the United States. The Pharmacy Technology segment develops and commercializes the MedCenter for direct sale or lease to third-party customers.