Apyx Medical (NASDAQ:APYX) Upgraded to Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Apyx Medical (NASDAQ:APYX) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. They currently have $8.75 price target on the stock.

According to Zacks, “Apyx Medical Corporation is an energy technology company. It provides products in the cosmetic and surgical markets. The company’s Helium Plasma Technology is marketed and sold as Renuvion(R) in the cosmetic surgery market and J-Plasma(R) in the hospital surgical market. Apyx Medical Corporation, formerly known as Bovie Medical Corporation, is based in FL, United States. “

APYX has been the topic of several other reports. Piper Jaffray Companies upped their price objective on Apyx Medical to $10.00 and gave the company an overweight rating in a research report on Monday, November 11th. ValuEngine raised Apyx Medical from a buy rating to a strong-buy rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $8.94.

Shares of NASDAQ:APYX opened at $7.39 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.38 and a quick ratio of 9.57. The stock’s 50-day moving average is $6.74 and its 200 day moving average is $6.82. Apyx Medical has a 1 year low of $3.55 and a 1 year high of $8.89. The company has a market cap of $266.28 million, a PE ratio of -25.48 and a beta of 0.09.

Apyx Medical (NASDAQ:APYX) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The firm had revenue of $7.58 million for the quarter, compared to analysts’ expectations of $6.78 million. Apyx Medical had a negative return on equity of 19.80% and a negative net margin of 66.77%. The firm’s quarterly revenue was up 106.3% on a year-over-year basis. Analysts expect that Apyx Medical will post -0.6 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in Apyx Medical in the 2nd quarter valued at approximately $79,000. BlackRock Inc. lifted its position in Apyx Medical by 372.5% in the 2nd quarter. BlackRock Inc. now owns 2,123,214 shares of the company’s stock valued at $14,268,000 after acquiring an additional 1,673,854 shares in the last quarter. Cortina Asset Management LLC lifted its position in Apyx Medical by 5.4% in the 2nd quarter. Cortina Asset Management LLC now owns 742,822 shares of the company’s stock valued at $4,992,000 after acquiring an additional 38,216 shares in the last quarter. Advisory Services Network LLC lifted its position in Apyx Medical by 66.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,000 shares of the company’s stock valued at $34,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Apyx Medical by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,366,256 shares of the company’s stock valued at $9,181,000 after acquiring an additional 35,899 shares in the last quarter. 50.79% of the stock is currently owned by institutional investors and hedge funds.

About Apyx Medical

Apyx Medical Corporation, a medical technology company, manufactures and sells medical devices in the cosmetic and surgical markets worldwide. It operates through two segments, Advanced Energy and original equipment manufacturing (OEM). The company develops J-Plasma, a patented plasma-based surgical product for cutting, coagulation, and ablation of soft tissue.

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