Bovie Medical (BVX) Downgraded 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 to investors on Thursday.

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, TheStreet upgraded shares of Bovie Medical from a “d” rating to a “c-” rating in a research note on Monday, May 14th.

BVX opened at $4.20 on Thursday. Bovie Medical has a 1-year low of $1.93 and a 1-year high of $4.29.

Bovie Medical (NYSEAMERICAN:BVX) last posted its quarterly earnings results on Monday, March 12th. The medical device company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Bovie Medical had a negative net margin of 13.32% and a negative return on equity of 21.67%. The company had revenue of $11.35 million during the quarter, compared to analyst estimates of $10.37 million.

Institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. boosted its stake in shares of Bovie Medical by 104.1% in the 4th quarter. Salem Investment Counselors Inc. now owns 60,757 shares of the medical device company’s stock valued at $158,000 after purchasing an additional 30,986 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Bovie Medical in the 4th quarter valued at approximately $307,000. James Hambro & Partners acquired a new stake in shares of Bovie Medical in the 4th quarter valued at approximately $416,000. White Pine Capital LLC acquired a new stake in shares of Bovie Medical in the 4th quarter valued at approximately $659,000. Finally, Cowen Prime Services LLC boosted its stake in shares of 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 in the last quarter.

Bovie Medical Company Profile

Bovie Medical Corporation, a medical device company, develops, manufactures, and markets electrosurgical devices and technologies, and related medical products used in doctor's offices, surgery centers, and hospitals worldwide. The company provides electrosurgical products, including desiccators, generators, electrodes, electrosurgical pencils, and various ancillary disposable products used during surgical procedures in gynecology, urology, plastic surgery, dermatology, veterinary, and other surgical markets for the cutting and coagulation of tissue.

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