Analysts Set Apyx Medical Corporation (NASDAQ:APYX) Target Price at $6.50

Apyx Medical Corporation (NASDAQ:APYX) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.50.

Several brokerages recently weighed in on APYX. BTIG Research upgraded Apyx Medical from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Wednesday, March 11th. Craig Hallum boosted their target price on Apyx Medical from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Apyx Medical in a report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Apyx Medical from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th.

Apyx Medical Stock Performance

Shares of NASDAQ:APYX opened at $2.92 on Thursday. Apyx Medical has a 1 year low of $1.08 and a 1 year high of $4.50. The stock has a market capitalization of $122.14 million, a price-to-earnings ratio of -10.81 and a beta of 1.35. The company has a debt-to-equity ratio of 2.35, a current ratio of 5.00 and a quick ratio of 4.26. The company’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $3.70.

Apyx Medical (NASDAQ:APYX) last issued its earnings results on Tuesday, March 10th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Apyx Medical had a negative return on equity of 114.95% and a negative net margin of 21.22%.The firm had revenue of $19.16 million for the quarter, compared to the consensus estimate of $19.12 million. As a group, research analysts predict that Apyx Medical will post -0.34 EPS for the current fiscal year.

Institutional Trading of Apyx Medical

Hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC increased its holdings in shares of Apyx Medical by 2.5% during the second quarter. Nantahala Capital Management LLC now owns 3,338,048 shares of the company’s stock worth $7,511,000 after buying an additional 80,000 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Apyx Medical during the 2nd quarter valued at $50,000. Caprock Group LLC bought a new stake in Apyx Medical during the 3rd quarter worth $40,000. Vanguard Group Inc. grew its position in Apyx Medical by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,528,947 shares of the company’s stock worth $3,272,000 after acquiring an additional 53,175 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Apyx Medical by 1.4% in the 3rd quarter. Royce & Associates LP now owns 2,474,399 shares of the company’s stock worth $5,295,000 after purchasing an additional 34,696 shares in the last quarter. Institutional investors and hedge funds own 55.33% of the company’s stock.

About Apyx Medical

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.