Apyx Medical Corporation (NASDAQ:APYX) Stock Now Rated "Moderate Buy" by Wall Street Analysts

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 a recent share price of $2.96.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.07 per share versus the estimated $0.08 loss, while revenue reached $13.88 million against a $13.18 million forecast. However, Apyx remains unprofitable, with a negative 14.78% net margin.
• Institutional investors and hedge funds own 55.33% of Apyx Medical, with several major investors—including Nantahala Capital Management, AIGH Capital Management and BlackRock—recently acquiring stakes.

Shares of Apyx Medical Corporation (NASDAQ:APYX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.60.

Several research analysts have recently issued reports on APYX shares. HC Wainwright started coverage on shares of Apyx Medical in a research note on Monday, July 13th. They issued a "buy" rating and a $7.00 target price on the stock. Zacks Research raised shares of Apyx Medical to a "hold" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Apyx Medical in a report on Monday, September 21st.

Apyx Medical Stock Up 4.6%

NASDAQ APYX opened at $2.96 on Friday. The firm has a market cap of $124.68 million, a PE ratio of -14.80 and a beta of 1.31. Apyx Medical has a one year low of $1.89 and a one year high of $5.08. The stock's 50 day simple moving average is $3.33 and its 200 day simple moving average is $3.76. The company has a debt-to-equity ratio of 3.19, a current ratio of 5.68 and a quick ratio of 4.53.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APYX. Nantahala Capital Management LLC acquired a new stake in shares of Apyx Medical during the second quarter worth $14,683,414. Sei Investments Co. increased its holdings in Apyx Medical by 298.6% in the first quarter. Sei Investments Co. now owns 598,255 shares of the company's stock valued at $2,208,000 after purchasing an additional 448,174 shares during the last quarter. AIGH Capital Management LLC acquired a new position in Apyx Medical in the second quarter valued at about $5,066,000. BlackRock Inc. acquired a new position in Apyx Medical in the second quarter valued at about $2,519,000. Finally, Kingsview Wealth Management LLC bought a new position in Apyx Medical during the second quarter worth about $962,000. Institutional investors and hedge funds own 55.33% of the company's stock.

About Apyx Medical

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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