Apyx Medical Corporation (NASDAQ:APYX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Apyx Medical has a “Moderate Buy” consensus rating from seven analysts, with four buys, one strong buy, one hold and one sell. The average 12-month price target is $6.60, compared with the stock’s reported $4.05 price.
• The company’s latest quarterly results modestly exceeded expectations, reporting an adjusted loss of $0.07 per share versus the $0.08 consensus loss and revenue of $13.88 million versus $13.18 million expected.
• Institutional investors own 55.33% of Apyx Medical, with several funds recently initiating or increasing positions. Despite the support, the company remains unprofitable, with negative net margin and return on equity.

Apyx Medical Corporation (NASDAQ:APYX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.60.

Several research firms have recently commented on APYX. Zacks Research upgraded Apyx Medical to a "hold" rating in a report on Tuesday, July 14th. HC Wainwright assumed coverage on Apyx Medical in a report on Monday, July 13th. They issued a "buy" rating and a $7.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Apyx Medical in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Apyx Medical from a "buy" rating to a "hold" rating in a research note on Sunday, April 26th.

Apyx Medical Stock Performance

Shares of APYX opened at $4.05 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 5.80 and a quick ratio of 4.79. The stock has a 50-day moving average of $4.24 and a 200-day moving average of $3.94. The company has a market cap of $169.74 million, a PE ratio of -20.25 and a beta of 1.39. Apyx Medical has a one year low of $1.70 and a one year high of $5.08.

Apyx Medical (NASDAQ:APYX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $13.88 million for the quarter, compared to the consensus estimate of $13.18 million. Apyx Medical had a negative return on equity of 76.18% and a negative net margin of 14.78%. On average, equities research analysts predict that Apyx Medical will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Apyx Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC bought a new stake in Apyx Medical during the 4th quarter worth approximately $3,867,000. Huntleigh Advisors Inc. bought a new position in shares of Apyx Medical in the fourth quarter valued at approximately $827,000. NewEdge Advisors LLC purchased a new position in shares of Apyx Medical during the first quarter valued at approximately $255,000. Renaissance Technologies LLC boosted its position in shares of Apyx Medical by 37.2% during the first quarter. Renaissance Technologies LLC now owns 302,395 shares of the company's stock valued at $1,116,000 after buying an additional 82,000 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Apyx Medical by 298.6% during the first quarter. Sei Investments Co. now owns 598,255 shares of the company's stock worth $2,208,000 after buying an additional 448,174 shares in the last quarter. 55.33% of the stock is owned by institutional investors.

Apyx Medical Company Profile

Apyx Medical NASDAQ: APYX is a medical device company focused on the development and commercialization of energy-based solutions for surgical and aesthetic applications. The company's product portfolio includes devices that utilize radiofrequency energy, cold plasma and proprietary technologies designed to deliver precise thermal control and tissue treatment. Its key offerings encompass the J-Plasma technology under the Renuvion brand, which is primarily used for subdermal skin tightening and aesthetic procedures, and its portfolio of advanced energy medical devices for general surgery, gynecology and dermatology.

Leveraging its dual focus on surgical and aesthetic markets, Apyx Medical serves physicians and healthcare providers across North America, Europe and select international regions.

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