560,986 Shares in Apyx Medical Corporation $APYX Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 560,986 shares of Apyx Medical in the second quarter, worth approximately $2.52 million and representing a 1.34% stake. Hedge funds and institutional investors collectively own 55.33% of the company.
• Apyx Medical reported quarterly revenue of $13.88 million and an adjusted loss of $0.07 per share, slightly beating analyst expectations, though profitability remained weak with a negative 14.78% net margin.
• The stock opened at $3.05, below its 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $6.60, despite mixed ratings.

BlackRock Inc. bought a new position in Apyx Medical Corporation (NASDAQ:APYX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 560,986 shares of the company's stock, valued at approximately $2,519,000. BlackRock Inc. owned 1.34% of Apyx Medical at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in APYX. Sei Investments Co. grew its holdings in shares of Apyx Medical by 298.6% in the first quarter. Sei Investments Co. now owns 598,255 shares of the company's stock worth $2,208,000 after acquiring an additional 448,174 shares during the period. AIGH Capital Management LLC bought a new position in Apyx Medical in the second quarter valued at about $5,066,000. Renaissance Technologies LLC boosted its position in Apyx Medical by 37.2% in the first quarter. Renaissance Technologies LLC now owns 302,395 shares of the company's stock worth $1,116,000 after purchasing an additional 82,000 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Apyx Medical in the fourth quarter worth about $73,000. Finally, Franklin Resources Inc. bought a new stake in shares of Apyx Medical during the 3rd quarter valued at about $59,000. 55.33% of the stock is currently owned by hedge funds and other institutional investors.

Apyx Medical Stock Down 0.3%

NASDAQ APYX opened at $3.05 on Friday. The stock's 50-day moving average price is $3.76 and its 200-day moving average price is $3.82. The company has a quick ratio of 4.53, a current ratio of 5.68 and a debt-to-equity ratio of 3.19. Apyx Medical Corporation has a 52 week low of $1.70 and a 52 week high of $5.08. The company has a market capitalization of $128.47 million, a P/E ratio of -15.25 and a beta of 1.31.

Apyx Medical (NASDAQ:APYX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Apyx Medical had a negative return on equity of 76.60% and a negative net margin of 14.78%.The company had revenue of $13.88 million during the quarter, compared to the consensus estimate of $13.18 million. On average, equities research analysts predict that Apyx Medical Corporation will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HC Wainwright began coverage on shares of Apyx Medical in a research note on Monday, July 13th. They issued a "buy" rating and a $7.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Apyx Medical in a research report on Wednesday, June 24th. Finally, Zacks Research raised shares of Apyx Medical to a "hold" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apyx Medical currently has an average rating of "Moderate Buy" and a consensus price target of $6.60.

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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