Apyx Medical (NASDAQ:APYX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Apyx Medical (NASDAQ:APYXGet Rating) from a hold rating to a sell rating in a research report report published on Friday morning, 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 recently issued reports on the company. Colliers Securities reiterated a buy rating on shares of Apyx Medical in a research note on Tuesday, March 22nd. Piper Sandler decreased their target price on Apyx Medical from $12.00 to $6.00 in a report on Thursday.

NASDAQ APYX traded up $0.30 during trading on Friday, hitting $3.65. The stock had a trading volume of 167,468 shares, compared to its average volume of 165,898. The company’s 50-day moving average price is $5.76 and its two-hundred day moving average price is $10.14. Apyx Medical has a 12 month low of $3.01 and a 12 month high of $17.50.

Apyx Medical (NASDAQ:APYXGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Apyx Medical had a negative return on equity of 26.79% and a negative net margin of 31.27%. During the same period in the prior year, the firm posted ($0.14) EPS. On average, equities research analysts forecast that Apyx Medical will post -0.52 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its holdings in Apyx Medical by 426.5% in the 2nd quarter. Morgan Stanley now owns 65,158 shares of the company’s stock valued at $673,000 after buying an additional 52,783 shares in the last quarter. Citadel Advisors LLC grew its holdings in Apyx Medical by 201.9% in the 2nd quarter. Citadel Advisors LLC now owns 62,904 shares of the company’s stock valued at $649,000 after buying an additional 42,071 shares in the last quarter. Invesco Ltd. acquired a new position in Apyx Medical in the 2nd quarter valued at $117,000. Wells Fargo & Company MN grew its holdings in Apyx Medical by 37.2% in the 2nd quarter. Wells Fargo & Company MN now owns 114,184 shares of the company’s stock valued at $1,178,000 after buying an additional 30,950 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Apyx Medical in the 3rd quarter valued at $148,000. 61.03% of the stock is currently owned by institutional investors and hedge funds.

About Apyx Medical (Get Rating)

Apyx Medical Corporation, an energy technology company, develops, manufactures, and sells medical devices in the cosmetic and surgical markets worldwide. The company operates in two segments, Advanced Energy and Original Equipment Manufacturing (OEM). It offers Helium Plasma Generator for delivery of RF energy and helium to cut, coagulate and ablate soft tissue during open and laparoscopic surgical procedures.

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