Apyx Medical (NASDAQ:APYX) Now Covered by Analysts at Maxim Group

Key Points

• Maxim Group initiated coverage of Apyx Medical with a “buy” rating and a $6.00 price target, implying 140% upside from the stock’s reported $2.50 price. The analyst consensus is “Moderate Buy,” with an average target of $6.50.
• Apyx Medical’s latest quarterly results exceeded expectations, with an adjusted loss of $0.07 per share versus the $0.08 estimate and revenue of $13.88 million versus the $13.18 million consensus.
• The stock remains financially challenged, posting negative profitability metrics and an expected full-year loss of $0.25 per share, while institutional investors own 55.33% of outstanding shares.

Equities research analysts at Maxim Group initiated coverage on shares of Apyx Medical (NASDAQ:APYX - Get Free Report) in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $6.00 price target on the stock. Maxim Group's target price indicates a potential upside of 140.00% from the stock's current price.

APYX has been the subject of a number of other reports. Zacks Research upgraded shares of Apyx Medical to a "hold" rating in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Apyx Medical in a research note on Monday, September 21st. Finally, HC Wainwright started coverage on Apyx Medical in a report on Monday, July 13th. They issued a "buy" rating and a $7.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $6.50.

Apyx Medical Stock Performance

Shares of APYX opened at $2.50 on Tuesday. The company has a market capitalization of $105.30 million, a PE ratio of -12.50 and a beta of 1.31. The company has a quick ratio of 4.53, a current ratio of 5.68 and a debt-to-equity ratio of 3.19. The company has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $3.76. Apyx Medical has a 52-week low of $2.01 and a 52-week high of $5.08.

Apyx Medical (NASDAQ:APYX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $13.88 million during the quarter, compared to analysts' expectations of $13.18 million. Apyx Medical had a negative return on equity of 76.60% and a negative net margin of 14.78%. Equities research analysts predict that Apyx Medical will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nwam LLC raised its position in Apyx Medical by 35.0% in the second quarter. Nwam LLC now owns 17,239 shares of the company's stock worth $77,000 after acquiring an additional 4,467 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in shares of Apyx Medical by 0.8% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 1,041,070 shares of the company's stock valued at $3,842,000 after purchasing an additional 8,067 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Apyx Medical during the 2nd quarter valued at about $62,000. AXQ Capital LP acquired a new position in shares of Apyx Medical in the 2nd quarter worth approximately $78,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Apyx Medical in the 2nd quarter worth approximately $110,000. Institutional investors own 55.33% of the company's stock.

Apyx Medical Company Profile

Apyx Medical Corporation NASDAQ: APYX is a medical technology company that develops, manufactures and markets energy-based surgical products. The company focuses on systems that use its proprietary Helium Plasma technology to support tissue cutting, coagulation and soft-tissue procedures.

Apyx Medical's product portfolio includes the Renuvion system, which is used in surgical and aesthetic procedures, and J-Plasma, an earlier generation of its Helium Plasma technology. Its products are marketed for use in fields such as plastic and cosmetic surgery, general surgery and other soft-tissue applications.

The company was formerly known as Bovie Medical Corporation and adopted the Apyx Medical name in 2018.

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