Bovie Medical (BVX) Stock Rating Upgraded by Zacks Investment Research

Bovie Medical (NYSEAMERICAN:BVX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $6.25 target price on the medical device company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.42% from the stock’s current price.

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. “

Other equities analysts have also issued reports about the stock. JMP Securities raised 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 report on Thursday, September 6th. Dougherty & Co started coverage on shares of Bovie Medical in a research report on Friday, September 14th. They set a “buy” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $8.58.

Shares of BVX opened at $5.66 on Friday. 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 issued its quarterly earnings data on Thursday, November 1st. The medical device company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. The company had revenue of $3.67 million during the quarter, compared to the consensus estimate of $3.67 million. Bovie Medical’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share.

A number of large investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC increased its position in Bovie Medical by 4.3% during the third quarter. Essex Investment Management Co. LLC now owns 282,997 shares of the medical device company’s stock worth $2,009,000 after acquiring an additional 11,630 shares during the period. BlackRock Inc. increased its position in Bovie Medical by 17.7% during the second quarter. BlackRock Inc. now owns 106,961 shares of the medical device company’s stock worth $465,000 after acquiring an additional 16,115 shares during the period. Creative Financial Designs Inc. ADV increased its position in Bovie Medical by 56.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 63,450 shares of the medical device company’s stock worth $450,000 after acquiring an additional 22,900 shares during the period. Royce & Associates LP increased its position in Bovie Medical by 3.4% during the second quarter. Royce & Associates LP now owns 710,000 shares of the medical device company’s stock worth $3,088,000 after acquiring an additional 23,400 shares during the period. Finally, Signaturefd LLC bought a new position in Bovie Medical during the second quarter worth about $136,000.

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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