Apyx Medical price target lowered to $4 from $6 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Apyx Medical (APYX) to $4 from $6 and keeps a Buy rating on the shares. In a traditionally softer quarter from a seasonal perspective and despite ongoing aesthetic headwinds, the company was able to put together a decent quarter aided by continued strength in handpiece sales, which offset ongoing weakness in generator sales, the firm notes. Given the ongoing challenges in the sector, management cut their outlook for FY24, but provided initial FY25 guidance that has the company returning to growth, Craig-Hallum adds.