Apyx Medical (NASDAQ:APYX) Raised to Buy at Zacks Investment Research

Apyx Medical (NASDAQ:APYX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage currently has a $14.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 20.38% from the stock’s previous close.

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 a number of other reports. Piper Sandler boosted their price target on Apyx Medical from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 11th. JMP Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Apyx Medical in a research report on Friday, November 12th.

APYX stock opened at $11.63 on Thursday. The business has a fifty day moving average price of $13.71 and a 200 day moving average price of $12.08. Apyx Medical has a fifty-two week low of $8.65 and a fifty-two week high of $17.50. The stock has a market capitalization of $399.42 million, a price-to-earnings ratio of -27.69 and a beta of 0.87.

Apyx Medical (NASDAQ:APYX) last announced its quarterly earnings data on Thursday, November 11th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.83 million during the quarter, compared to analysts’ expectations of $10.83 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. As a group, equities research analysts forecast that Apyx Medical will post -0.47 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ergoteles LLC bought a new position in shares of Apyx Medical during the 2nd quarter worth about $103,000. Advisory Services Network LLC bought a new position in shares of Apyx Medical during the 2nd quarter worth approximately $52,000. Cowen Prime Advisors LLC increased its stake in shares of Apyx Medical by 1.1% during the 3rd quarter. Cowen Prime Advisors LLC now owns 251,759 shares of the company’s stock worth $3,487,000 after purchasing an additional 2,800 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Apyx Medical during the 2nd quarter worth approximately $37,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Apyx Medical during the 2nd quarter worth approximately $500,000. Institutional investors own 59.97% 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).

Recommended Story: Upside/Downside Explained

Get a free copy of the Zacks research report on Apyx Medical (APYX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Apyx Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apyx Medical and related companies with MarketBeat.com's FREE daily email newsletter.