Bovie Medical Co. (BVX) Lowered to “Hold” at Zacks Investment Research

Bovie Medical Co. (BVX) Lowered to “Hold” at Zacks Investment Research

Bovie Medical Co. (AMEX:BVX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

Bovie Medical (AMEX:BVX) traded up 1.51% during midday trading on Tuesday, hitting $2.69. 132,683 shares of the stock were exchanged. The company’s 50 day moving average is $3.11 and its 200 day moving average is $3.99. Bovie Medical has a 1-year low of $1.56 and a 1-year high of $5.75. The company’s market capitalization is $83.01 million.

Bovie Medical (AMEX:BVX) last issued its quarterly earnings results on Thursday, March 9th. The medical device company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.03. Analysts predict that Bovie Medical will post ($0.06) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC acquired a new position in shares of Bovie Medical during the third quarter worth approximately $13,963,000. Cortina Asset Management LLC boosted its position in shares of Bovie Medical by 209.1% in the fourth quarter. Cortina Asset Management LLC now owns 1,581,239 shares of the medical device company’s stock worth $5,677,000 after buying an additional 1,069,643 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Bovie Medical by 33.2% in the fourth quarter. Renaissance Technologies LLC now owns 330,800 shares of the medical device company’s stock worth $1,188,000 after buying an additional 82,400 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Bovie Medical during the third quarter worth approximately $276,000. Finally, Cowen Prime Services LLC boosted its position in shares of Bovie Medical by 439.6% in the third quarter. Cowen Prime Services LLC now owns 49,100 shares of the medical device company’s stock worth $256,000 after buying an additional 40,000 shares during the last quarter.

About Bovie Medical

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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