Bovie Medical (BVX) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bovie Medical (NYSEAMERICAN:BVX) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $6.25 price objective on the medical device company’s stock.

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. “

A number of other equities research analysts have also weighed in on BVX. JMP Securities lifted 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 on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $8.58.

Shares of Bovie Medical stock opened at $5.66 on Friday. Bovie Medical has a 12-month low of $2.28 and a 12-month high of $7.62.

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

Several institutional investors and hedge funds have recently made changes to their positions in BVX. ProVise Management Group LLC bought a new stake in shares of Bovie Medical during the 2nd quarter valued at about $1,439,000. Essex Investment Management Co. LLC bought a new stake in Bovie Medical during the second quarter worth about $1,180,000. RTW Investments LP boosted its stake in Bovie Medical by 7.8% during the second quarter. RTW Investments LP now owns 2,082,137 shares of the medical device company’s stock worth $9,057,000 after acquiring an additional 150,189 shares in the last quarter. Perkins Capital Management Inc. boosted its stake in Bovie Medical by 57.6% during the second quarter. Perkins Capital Management Inc. now owns 400,700 shares of the medical device company’s stock worth $1,743,000 after acquiring an additional 146,450 shares in the last quarter. Finally, Boston Partners bought a new stake in Bovie Medical during the second quarter worth about $620,000.

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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