Apyx Medical price target lowered to $5 from $8 at Stephens

Stephens analyst George Sellers lowered the firm’s price target on Apyx Medical to $5 from $8 and keeps an Overweight rating on the shares. The company’s Q3 revenue missed consensus as energy revenue was negatively impacted by seasonality, high interest rates, and lack of execution from the sales and marketing team, the analyst tells investors. Overall, the quarter underperformed expectations and while the macro outlook may weigh near-term results, the firm expects strong physician economics to continue to drive demand.