Bovie Medical (BVX) Lowered to “Sell” at Zacks Investment Research

Bovie Medical (NYSEAMERICAN:BVX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Bovie Medical Corporation, formerly An-Con Genetics Inc., is engaged in the manufacturing and marketing of a diverse line of medical devices and advanced coating technologies. “

Separately, ValuEngine downgraded Bovie Medical from a “hold” rating to a “sell” rating in a research note on Monday, November 6th.

Bovie Medical (NYSEAMERICAN BVX) traded down $0.04 during trading hours on Wednesday, hitting $2.38. The company’s stock had a trading volume of 49,238 shares, compared to its average volume of 72,349. The firm has a market cap of $81.82, a price-to-earnings ratio of -14.88 and a beta of -0.57. Bovie Medical has a 52-week low of $1.87 and a 52-week high of $4.29.

Bovie Medical (NYSEAMERICAN:BVX) last issued its earnings results on Thursday, November 2nd. The medical device company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). Bovie Medical had a negative return on equity of 21.67% and a negative net margin of 13.32%. The business had revenue of $9.35 million for the quarter, compared to the consensus estimate of $9.98 million.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RTW Investments LP bought a new stake in Bovie Medical in the 3rd quarter valued at $3,852,000. Perkins Capital Management Inc. boosted its stake in Bovie Medical by 4.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 623,685 shares of the medical device company’s stock valued at $2,108,000 after purchasing an additional 23,868 shares during the period. Cowen Prime Services LLC boosted its stake in Bovie Medical by 69.4% in the 4th quarter. Cowen Prime Services LLC now owns 295,041 shares of the medical device company’s stock valued at $767,000 after purchasing an additional 120,871 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Bovie Medical by 36.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 109,950 shares of the medical device company’s stock valued at $372,000 after purchasing an additional 29,200 shares during the period. Finally, Northern Trust Corp boosted its stake in Bovie Medical by 1.9% in the 2nd quarter. Northern Trust Corp now owns 80,699 shares of the medical device company’s stock valued at $199,000 after purchasing an additional 1,534 shares during the period.

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Bovie Medical Company Profile

Bovie Medical Corporation (Bovie) is an energy-based medical device company. The Company is engaged in the design, development and manufacturing of electrosurgical equipment by producing equipment for medical device manufacturers through original equipment manufacturing (OEM) agreements, as well as start-up companies.

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