Piper Jaffray Cos. began coverage on shares of Bovie Medical Co. (NYSE:BVX) in a research note issued to investors on Monday. The brokerage issued an overweight rating and a $6.00 price objective on the medical device company’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Bovie Medical from a hold rating to a buy rating and set a $6.25 target price on the stock in a research note on Monday, October 31st. JMP Securities reiterated an outperform rating and issued a $5.00 target price on shares of Bovie Medical in a research note on Wednesday, August 3rd.

Shares of Bovie Medical (NYSE:BVX) traded down 1.14% during mid-day trading on Monday, reaching $4.32. The company had a trading volume of 3,164 shares. Bovie Medical has a 12-month low of $1.56 and a 12-month high of $5.75. The firm has a 50-day moving average of $4.79 and a 200-day moving average of $3.21. The company’s market capitalization is $117.25 million.

Bovie Medical (NYSE:BVX) last released its quarterly earnings results on Wednesday, October 26th. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.25 million. On average, equities analysts anticipate that Bovie Medical will post ($0.10) earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its stake in shares of Bovie Medical by 27.0% in the second quarter. BlackRock Fund Advisors now owns 72,051 shares of the medical device company’s stock worth $118,000 after buying an additional 15,305 shares in the last quarter. Hilton Capital Management LLC bought a new stake in shares of Bovie Medical during the third quarter worth $130,000. Cowen Prime Services LLC boosted its stake 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 in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in Bovie Medical during the third quarter worth about $276,000. Finally, Northern Trust Corp raised its position in Bovie Medical by 39.9% in the third quarter. Northern Trust Corp now owns 76,885 shares of the medical device company’s stock worth $400,000 after buying an additional 21,940 shares during the last quarter.

Bovie Medical Company Profile

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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