Apyx Medical (NASDAQ:APYX) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Apyx Medical from a "buy" to a "hold," though analyst views are mixed and the stock's consensus rating remains a "Moderate Buy" with a consensus price target of $6.50.
• Apyx trades around $3.72 (market cap ~$155.6M) and reported a loss per share of $0.03 for the quarter—beating estimates of a $0.06 loss—with revenue of $19.16M roughly in line with expectations, but the company remains unprofitable.
• Institutional investors own about 55.33% of the stock, and several funds (State Street, Geode, Perkins, Silverberg) increased stakes recently while Citadel initiated a small position.

Apyx Medical (NASDAQ:APYX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum lifted their price objective on shares of Apyx Medical from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Apyx Medical in a report on Friday, March 27th. Finally, BTIG Research upgraded shares of Apyx Medical from a "neutral" rating to a "buy" rating and set a $6.00 price target on the stock in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.50.

Apyx Medical Stock Down 2.1%

APYX opened at $3.72 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.26 and a current ratio of 5.00. Apyx Medical has a fifty-two week low of $0.83 and a fifty-two week high of $4.50. The firm's fifty day moving average is $3.68 and its 200 day moving average is $3.68. The stock has a market cap of $155.61 million, a price-to-earnings ratio of -13.78 and a beta of 1.54.

Apyx Medical (NASDAQ:APYX - Get Free Report) last released its earnings results on Tuesday, March 10th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. Apyx Medical had a negative net margin of 21.22% and a negative return on equity of 114.95%. The company had revenue of $19.16 million for the quarter, compared to analysts' expectations of $19.12 million. On average, sell-side analysts forecast that Apyx Medical will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Apyx Medical

A number of large investors have recently made changes to their positions in the business. Perkins Capital Management Inc. increased its holdings in shares of Apyx Medical by 4.9% in the 4th quarter. Perkins Capital Management Inc. now owns 85,000 shares of the company's stock worth $298,000 after buying an additional 4,000 shares during the last quarter. State Street Corp grew its holdings in Apyx Medical by 6.8% during the 4th quarter. State Street Corp now owns 116,706 shares of the company's stock valued at $408,000 after purchasing an additional 7,400 shares during the last quarter. Geode Capital Management LLC grew its holdings in Apyx Medical by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 358,829 shares of the company's stock valued at $1,257,000 after purchasing an additional 7,551 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its holdings in 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 during the last quarter. Finally, Citadel Advisors LLC bought a new position in Apyx Medical during the 3rd quarter valued at about $28,000. 55.33% of the stock is currently owned by institutional investors.

About Apyx Medical

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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