Zacks Investment Research cut shares of Bovie Medical (NYSEAMERICAN:BVX) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
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 recently issued reports about the stock. JMP Securities upped their target price on shares of Bovie Medical from $6.00 to $8.50 and gave the company a market outperform rating in a research note on Thursday, September 6th. Dougherty & Co began coverage on shares of Bovie Medical in a research note on Friday, September 14th. They set a buy rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Bovie Medical currently has a consensus rating of Hold and a consensus target price of $8.58.
NYSEAMERICAN:BVX traded up $0.01 during trading hours on Monday, hitting $5.72. 17,307 shares of the company traded hands, compared to its average volume of 127,577. Bovie Medical has a twelve month low of $2.28 and a twelve month high of $7.62.
Bovie Medical (NYSEAMERICAN:BVX) last released its earnings results on Thursday, November 1st. The medical device company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. The company had revenue of $3.67 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned ($0.09) earnings per share.
Several hedge funds have recently made changes to their positions in BVX. ProVise Management Group LLC acquired a new position in shares of Bovie Medical in the 2nd quarter valued at $1,439,000. Essex Investment Management Co. LLC acquired a new position in shares of Bovie Medical in the 2nd quarter valued at $1,180,000. RTW Investments LP raised its stake in shares of Bovie Medical by 7.8% in the 2nd quarter. RTW Investments LP now owns 2,082,137 shares of the medical device company’s stock valued at $9,057,000 after buying an additional 150,189 shares in the last quarter. Perkins Capital Management Inc. raised its stake in shares of Bovie Medical by 57.6% in the 2nd quarter. Perkins Capital Management Inc. now owns 400,700 shares of the medical device company’s stock valued at $1,743,000 after buying an additional 146,450 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Bovie Medical in the 2nd quarter valued at $620,000.
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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