1,104,970 Shares in Apyx Medical Corporation $APYX Purchased by AIGH Capital Management LLC

Key Points

• AIGH Capital Management bought a new position of 1,104,970 shares of Apyx Medical in Q4 valued at about $3.87 million, making Apyx roughly 0.9% of AIGH’s portfolio and leaving AIGH with about 2.89% ownership of the company.
• Wall Street analysts are mixed but leaning positive with a consensus rating of "Moderate Buy" and a consensus target price of $6.50, after upgrades from BTIG and Craig Hallum and a sell from Weiss Ratings.
• Shares opened at $3.06 (down 8.1%) with a market cap of about $128 million; the latest quarter beat EPS estimates (‑$0.03 vs. ‑$0.06) and had ~$19.16M revenue, but the company remains unprofitable with negative margins and return on equity.

AIGH Capital Management LLC bought a new position in shares of Apyx Medical Corporation (NASDAQ:APYX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,104,970 shares of the company's stock, valued at approximately $3,867,000. Apyx Medical accounts for about 0.9% of AIGH Capital Management LLC's holdings, making the stock its 25th largest holding. AIGH Capital Management LLC owned 2.89% of Apyx Medical as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citadel Advisors LLC bought a new stake in Apyx Medical in the 3rd quarter valued at about $28,000. Caprock Group LLC bought a new stake in Apyx Medical in the 3rd quarter valued at about $40,000. Osaic Holdings Inc. bought a new stake in Apyx Medical in the 2nd quarter valued at about $50,000. Franklin Resources Inc. bought a new stake in Apyx Medical in the 3rd quarter valued at about $59,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Apyx Medical in the 3rd quarter valued at about $163,000. Institutional investors own 55.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BTIG Research upgraded shares of Apyx Medical from a "neutral" rating to a "buy" rating and set a $6.00 target price for the company in a research report on Wednesday, March 11th. Wall Street Zen cut shares of Apyx Medical from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Craig Hallum boosted their target price 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Apyx Medical in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.50.

Apyx Medical Stock Down 8.1%

Shares of NASDAQ APYX opened at $3.06 on Friday. The firm has a market cap of $128.00 million, a PE ratio of -11.33 and a beta of 1.35. Apyx Medical Corporation has a 12-month low of $1.04 and a 12-month high of $4.50. The company's fifty day simple moving average is $3.66 and its 200 day simple moving average is $3.69. The company has a quick ratio of 4.26, a current ratio of 5.00 and a debt-to-equity ratio of 2.35.

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

Apyx Medical 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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