Zacks Investment Research Lowers Apyx Medical (NASDAQ:APYX) to Sell

Zacks Investment Research cut shares of Apyx Medical (NASDAQ:APYX) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

A number of other equities research analysts have also weighed in on APYX. Piper Sandler boosted their price target on Apyx Medical from $14.00 to $20.00 and gave the stock an overweight rating in a research note on Thursday, November 11th. JMP Securities restated a buy rating and set a $17.00 price target on shares of Apyx Medical in a research note on Friday, November 12th.

APYX opened at $13.00 on Tuesday. The company has a 50-day moving average of $13.89. Apyx Medical has a 1 year low of $7.69 and a 1 year high of $17.50. The stock has a market capitalization of $446.47 million, a price-to-earnings ratio of -30.95 and a beta of 0.87.

Apyx Medical (NASDAQ:APYX) last posted its earnings results on Thursday, November 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. Apyx Medical had a negative return on equity of 24.87% and a negative net margin of 34.05%. The company had revenue of $11.83 million for the quarter, compared to analyst estimates of $10.83 million. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. As a group, equities analysts anticipate that Apyx Medical will post -0.5 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ergoteles LLC purchased a new stake in Apyx Medical in the second quarter valued at approximately $103,000. Advisory Services Network LLC purchased a new stake in Apyx Medical in the second quarter valued at approximately $52,000. Cowen Prime Advisors LLC boosted its position in Apyx Medical by 1.1% in the third quarter. Cowen Prime Advisors LLC now owns 251,759 shares of the company’s stock valued at $3,487,000 after buying an additional 2,800 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Apyx Medical in the second quarter valued at approximately $37,000. Finally, Susquehanna International Group LLP acquired a new position in Apyx Medical in the second quarter valued at approximately $500,000. Hedge funds and other institutional investors own 60.70% of the company’s stock.

About Apyx Medical

Apyx Medical Corp. operates as an energy-based medical technology company. The firm engages in developing, manufacturing, and marketing a range of electrosurgical products and technologies, as well as related medical products used the offices of doctors, surgery centers, and hospitals worldwide. It operates through the following segments: Advanced Energy and Original Equipment Manufacture (OME).

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