Apyx Medical (NASDAQ:APYX) Shares Down 1.8% - Here's What Happened

Key Points

• Apyx Medical shares fell 1.8% on Friday, trading as low as $4.34 after moving on lighter-than-average volume.
• Analyst sentiment was mixed, with Weiss Ratings reaffirming a sell rating and Wall Street Zen cutting the stock to hold; the consensus view remains Moderate Buy with a $6.50 price target.
• The company’s latest quarterly results beat expectations, posting a smaller-than-expected loss and higher-than-forecast revenue, though profitability remains weak with negative net margin and return on equity.

Apyx Medical Corporation (NASDAQ:APYX - Get Free Report) was down 1.8% during trading on Friday . The stock traded as low as $4.34 and last traded at $4.38. Approximately 43,859 shares were traded during mid-day trading, a decline of 60% from the average session volume of 109,807 shares. The stock had previously closed at $4.46.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on APYX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Apyx Medical in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Apyx Medical from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apyx Medical has an average rating of "Moderate Buy" and an average price target of $6.50.

Apyx Medical Stock Down 1.8%

The company has a debt-to-equity ratio of 2.68, a quick ratio of 4.79 and a current ratio of 5.80. The stock's 50-day moving average price is $4.14 and its two-hundred day moving average price is $3.88. The stock has a market capitalization of $183.57 million, a PE ratio of -19.91 and a beta of 1.37.

Apyx Medical (NASDAQ:APYX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. The business had revenue of $12.49 million for the quarter, compared to analysts' expectations of $10.53 million. Apyx Medical had a negative net margin of 16.40% and a negative return on equity of 88.47%.

Institutional Investors Weigh In On Apyx Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC boosted its stake in shares of Apyx Medical by 2.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,338,048 shares of the company's stock worth $7,511,000 after buying an additional 80,000 shares during the last quarter. Osaic Holdings Inc. bought a new stake in shares of Apyx Medical during the 2nd quarter valued at about $50,000. Vanguard Group Inc. grew its stake in shares of Apyx Medical by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,528,947 shares of the company's stock valued at $3,272,000 after purchasing an additional 53,175 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Apyx Medical during the 3rd quarter valued at about $59,000. Finally, Citadel Advisors LLC bought a new position in shares of Apyx Medical in the 3rd quarter worth approximately $28,000. Institutional investors own 55.33% of the company's stock.

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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