Apyx Medical (NASDAQ:APYX) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Apyx Medical (NASDAQ:APYX – Get Rating) posted its earnings results on Thursday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02), MarketWatch Earnings reports. Apyx Medical had a negative return on equity of 26.79% and a negative net margin of 31.27%. During the same period last year, the business posted ($0.14) EPS. Apyx Medical updated its FY 2022 guidance to EPS.

Apyx Medical stock opened at $3.65 on Friday. The business has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $10.14. Apyx Medical has a 12 month low of $3.01 and a 12 month high of $17.50.

Several equities research analysts have recently weighed in on the company. Colliers Securities reissued a “buy” rating on shares of Apyx Medical in a research report on Tuesday, March 22nd. Zacks Investment Research lowered Apyx Medical from a “hold” rating to a “sell” rating in a report on Friday. Finally, Piper Sandler cut their target price on Apyx Medical from $12.00 to $6.00 in a research report on Thursday.

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Advisers LP lifted its stake in shares of Apyx Medical by 5.9% during the 3rd quarter. Two Sigma Advisers LP now owns 14,300 shares of the company’s stock worth $198,000 after purchasing an additional 800 shares during the period. Captrust Financial Advisors grew its stake in shares of Apyx Medical by 69.0% in the third quarter. Captrust Financial Advisors now owns 2,450 shares of the company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apyx Medical by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 497,764 shares of the company’s stock valued at $6,381,000 after buying an additional 2,294 shares during the period. Charles Schwab Investment Management Inc. grew its position in Apyx Medical by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 80,775 shares of the company’s stock valued at $1,036,000 after acquiring an additional 2,360 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Apyx Medical by 155.6% during the third quarter. Royal Bank of Canada now owns 5,459 shares of the company’s stock valued at $76,000 after purchasing an additional 3,323 shares during the period. 61.03% of the stock is currently owned by institutional investors.

Apyx Medical Company Profile (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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