Apyx Medical (NASDAQ:APYX) Stock Rated “Buy” in New Coverage at Maxim Group

Maxim Group began coverage on shares of Apyx Medical (NASDAQ:APYX) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $6.00 target price on the stock.

A number of other brokerages have also issued reports on APYX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apyx Medical in a research report on Monday, September 21st. HC Wainwright assumed coverage on shares of Apyx Medical in a report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Zacks Research upgraded shares of Apyx Medical to a “hold” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.50.

Apyx Medical Stock Performance

NASDAQ APYX opened at $2.50 on Tuesday. The stock has a market capitalization of $105.30 million, a price-to-earnings ratio of -12.50 and a beta of 1.45. The stock has a 50-day moving average of $3.22 and a 200 day moving average of $3.73. The company has a current ratio of 5.68, a quick ratio of 4.53 and a debt-to-equity ratio of 3.19. Apyx Medical has a twelve month low of $2.06 and a twelve month high of $5.08.

Apyx Medical (NASDAQ:APYX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $13.88 million for the quarter, compared to analyst estimates of $13.18 million. Apyx Medical had a negative return on equity of 76.60% and a negative net margin of 14.78%. Sell-side analysts anticipate that Apyx Medical will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Apyx Medical

A number of hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC acquired a new stake in shares of Apyx Medical in the second quarter worth approximately $14,683,414. AIGH Capital Management LLC purchased a new position in Apyx Medical in the 2nd quarter valued at $5,066,000. Silverberg Bernstein Capital Management LLC lifted its holdings in Apyx Medical by 0.8% in 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 in the last quarter. Sei Investments Co. boosted its stake in Apyx Medical by 298.6% during the 1st quarter. Sei Investments Co. now owns 598,255 shares of the company’s stock worth $2,208,000 after purchasing an additional 448,174 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in Apyx Medical during the 2nd quarter worth $2,519,000. Institutional investors and hedge funds own 55.33% of the company’s stock.

Apyx Medical Company Profile

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.