Apyx Medical initiated with an Overweight at Stephens

Stephens analyst George Sellers initiated coverage of Apyx Medical with an Overweight rating and $8 price target. The aesthetic medical device company that manufactures and sells the Renuvion device and associated single-use hand pieces has “under-appreciated” gross margins and broad FDA approval, the analyst tells investors. Stephens expects the Renuvion business to return to it’s “pre-safety communication growth trajectory” after the company received FDA clearance for each indication described in the safety communication, the analyst added.