Bovie Medical (BVX) Updates FY18 Earnings Guidance

Bovie Medical (NYSEAMERICAN:BVX) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $(0.25-0.26) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.34). The company issued revenue guidance of $15.8-16.2 million, compared to the consensus revenue estimate of $15.35 million.

Shares of NYSEAMERICAN:BVX traded up $0.11 during trading on Friday, hitting $5.66. The company’s stock had a trading volume of 315,688 shares, compared to its average volume of 126,788. Bovie Medical has a fifty-two week low of $2.28 and a fifty-two week high of $7.62.

Bovie Medical (NYSEAMERICAN:BVX) last posted its quarterly earnings results on Thursday, November 1st. The medical device company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. The business had revenue of $3.67 million during the quarter, compared to analyst estimates of $3.67 million. The business’s revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS.

BVX has been the subject of several research reports. Dougherty & Co initiated coverage on shares of Bovie Medical in a research note on Friday, September 14th. They issued a buy rating and a $11.00 price target for the company. JMP Securities boosted their price target on shares of Bovie Medical from $6.00 to $8.50 and gave the stock a market outperform rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research upgraded shares of Bovie Medical from a hold rating to a buy rating and set a $6.25 target price for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $8.58.

About Bovie Medical

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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