Maxim Group Initiates Coverage on Apyx Medical (NASDAQ:APYX)

Maxim Group assumed coverage on shares of Apyx Medical (NASDAQ:APYX) in a report released on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 140.00% from the company’s current price.

A number of other analysts have also commented on the stock. Zacks Research raised shares of Apyx Medical to a “hold” rating in a research note on Tuesday, July 14th. HC Wainwright initiated coverage on Apyx Medical in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Apyx Medical in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

Apyx Medical Stock Performance

Shares of NASDAQ APYX opened at $2.50 on Tuesday. The stock’s fifty day simple moving average is $3.30 and its 200 day simple moving average is $3.76. The stock has a market capitalization of $105.30 million, a price-to-earnings ratio of -12.50 and a beta of 1.31. 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 has a 52-week low of $2.01 and a 52-week high of $5.08.

Apyx Medical (NASDAQ:APYX) last announced its earnings results on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate 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 business had revenue of $13.88 million during the quarter, compared to the consensus estimate of $13.18 million. As a group, sell-side analysts forecast that Apyx Medical will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Apyx Medical

Large investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC acquired a new position in shares of Apyx Medical during the 2nd quarter worth $14,683,414. AIGH Capital Management LLC acquired a new stake in shares of Apyx Medical in the 2nd quarter valued at $5,066,000. Silverberg Bernstein Capital Management LLC boosted its holdings in Apyx Medical by 0.8% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 1,041,070 shares of the company’s stock worth $3,842,000 after purchasing an additional 8,067 shares in the last quarter. BlackRock Inc. bought a new stake in Apyx Medical in the second quarter worth $2,519,000. Finally, Sei Investments Co. increased its position in Apyx Medical by 298.6% during the first quarter. Sei Investments Co. now owns 598,255 shares of the company’s stock worth $2,208,000 after buying an additional 448,174 shares during the last quarter. 55.33% of the stock is owned by institutional investors.

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.