Bovie Medical Co. (NYSEAMERICAN:BVX) was the target of a large decline in short interest in the month of March. As of March 29th, there was short interest totalling 222,436 shares, a decline of 24.8% from the March 15th total of 295,649 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 128,618 shares, the short-interest ratio is currently 1.7 days.
Shares of NYSEAMERICAN:BVX opened at $3.54 on Wednesday. Bovie Medical has a twelve month low of $1.87 and a twelve month high of $4.29.
Bovie Medical (NYSEAMERICAN:BVX) last released its quarterly earnings results on Monday, March 12th. The medical device company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Bovie Medical had a negative net margin of 13.32% and a negative return on equity of 21.67%. The business had revenue of $11.35 million during the quarter, compared to analysts’ expectations of $10.37 million.
Separately, Zacks Investment Research cut shares of Bovie Medical from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st.
Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in Bovie Medical by 1.9% during the 2nd quarter. Northern Trust Corp now owns 80,699 shares of the medical device company’s stock worth $199,000 after buying an additional 1,534 shares during the last quarter. Cowen Prime Services LLC raised its position in Bovie Medical by 69.4% during the 4th quarter. Cowen Prime Services LLC now owns 295,041 shares of the medical device company’s stock worth $767,000 after buying an additional 120,871 shares during the last quarter. Royce & Associates LP purchased a new position in Bovie Medical during the 4th quarter worth $1,711,000. Archon Capital Management LLC raised its position in Bovie Medical by 2,841.7% during the 4th quarter. Archon Capital Management LLC now owns 2,208,538 shares of the medical device company’s stock worth $5,742,000 after buying an additional 2,133,462 shares during the last quarter. Finally, James Hambro & Partners purchased a new position in Bovie Medical during the 4th quarter worth $416,000.
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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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