Apyx Medical (NASDAQ:APYX) Upgraded to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Apyx Medical (NASDAQ:APYX) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning, ValuEngine reports.

Several other analysts have also weighed in on the stock. Piper Jaffray Companies boosted their target price on shares of Apyx Medical to $10.00 and gave the company an overweight rating in a research note on Monday, November 11th. Zacks Investment Research downgraded shares of Apyx Medical from a buy rating to a hold rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $8.94.

NASDAQ:APYX traded up $0.06 during mid-day trading on Wednesday, reaching $8.37. The stock had a trading volume of 1,981 shares, compared to its average volume of 76,445. The company has a market capitalization of $274.20 million, a price-to-earnings ratio of -28.76 and a beta of 0.15. Apyx Medical has a 1-year low of $3.55 and a 1-year high of $8.89. The stock’s 50 day simple moving average is $8.03 and its two-hundred day simple moving average is $7.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.73 and a quick ratio of 7.93.

Apyx Medical (NASDAQ:APYX) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 20.25% and a negative net margin of 66.77%. The company’s revenue was up 106.3% compared to the same quarter last year. Sell-side analysts anticipate that Apyx Medical will post -0.6 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in APYX. Bank of Montreal Can grew its stake in Apyx Medical by 277.9% during the 2nd quarter. Bank of Montreal Can now owns 3,779 shares of the company’s stock worth $26,000 after buying an additional 2,779 shares during the last quarter. Astoria Strategic Wealth Inc. bought a new position in Apyx Medical in the 4th quarter worth approximately $86,000. Metropolitan Life Insurance Co NY acquired a new stake in Apyx Medical in the 3rd quarter valued at approximately $87,000. Frisch Financial Group Inc. increased its position in Apyx Medical by 31.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 17,658 shares of the company’s stock valued at $120,000 after acquiring an additional 4,248 shares during the period. Finally, Rhumbline Advisers raised its stake in Apyx Medical by 21.6% during the 3rd quarter. Rhumbline Advisers now owns 37,346 shares of the company’s stock valued at $253,000 after acquiring an additional 6,634 shares in the last quarter. Institutional investors and hedge funds own 51.99% of the company’s stock.

Apyx Medical Company Profile

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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