Zacks Investment Research Lowers Bovie Medical Co. (BVX) to Hold
Bovie Medical Co. (NYSE: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. “
Separately, JMP Securities reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Bovie Medical in a report on Wednesday, August 3rd.
Shares of Bovie Medical (NYSE:BVX) traded down 3.64% during midday trading on Tuesday, reaching $5.30. The company’s stock had a trading volume of 282,253 shares. The company’s market capitalization is $143.37 million. Bovie Medical has a one year low of $1.56 and a one year high of $5.69. The stock’s 50-day moving average is $4.26 and its 200-day moving average is $2.46.
In related news, insider John J. Mccarthy III purchased 90,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average price of $3.30 per share, with a total value of $299,475.00. Following the completion of the acquisition, the insider now owns 115,750 shares in the company, valued at $381,975. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
A hedge fund recently raised its stake in Bovie Medical stock. Renaissance Technologies LLC raised its stake in Bovie Medical Co. (NYSE:BVX) by 37.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,000 shares of the medical device company’s stock after buying an additional 34,700 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of Bovie Medical worth $212,000 as of its most recent SEC filing.
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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