Apyx Medical Corp (NASDAQ:APYX)’s share price was up 8.2% during trading on Thursday . The company traded as high as $4.77 and last traded at $4.73. Approximately 542,958 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 364,730 shares. The stock had previously closed at $4.37.
A number of equities analysts have commented on APYX shares. Piper Jaffray Companies lifted their target price on Apyx Medical to $10.00 and gave the company an “overweight” rating in a research note on Monday, February 11th. Zacks Investment Research downgraded Apyx Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 18th. JMP Securities decreased their target price on Apyx Medical from $12.00 to $8.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 2nd. Dougherty & Co decreased their target price on Apyx Medical from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, ValuEngine cut Apyx Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.00.
The firm has a market cap of $161.00 million, a price-to-earnings ratio of -16.31 and a beta of 0.36.
Apyx Medical (NASDAQ:APYX) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.10) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The company had revenue of $5.93 million for the quarter, compared to analysts’ expectations of $5.95 million. Apyx Medical had a negative return on equity of 8.95% and a net margin of 206.55%. The business’s revenue for the quarter was up 62.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Sell-side analysts expect that Apyx Medical Corp will post -0.71 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APYX. Perkins Capital Management Inc. bought a new stake in shares of Apyx Medical during the first quarter valued at approximately $1,549,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Apyx Medical during the first quarter valued at approximately $380,000. Tibra Equities Europe Ltd bought a new stake in shares of Apyx Medical during the first quarter valued at approximately $369,000. Creative Planning bought a new stake in shares of Apyx Medical during the first quarter valued at approximately $124,000. Finally, Bailard Inc. bought a new stake in shares of Apyx Medical during the first quarter valued at approximately $99,000. 39.93% of the stock is currently owned by institutional investors.
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About Apyx Medical (NASDAQ:APYX)
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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