Analysts at Dougherty & Co began coverage on shares of Bovie Medical (NYSEAMERICAN:BVX) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $11.00 price target on the medical device company’s stock. Dougherty & Co’s price objective would suggest a potential upside of 51.93% from the company’s current price.
A number of other equities research analysts have also issued reports on BVX. Zacks Investment Research lowered shares of Bovie Medical from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. JMP Securities increased their target price on shares of Bovie Medical from $6.00 to $8.50 and gave the stock a “market outperform” rating in a report on Thursday, September 6th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.75.
NYSEAMERICAN:BVX opened at $7.24 on Friday. Bovie Medical has a fifty-two week low of $2.28 and a fifty-two week high of $7.27.
Bovie Medical (NYSEAMERICAN:BVX) last posted its quarterly earnings data on Wednesday, August 1st. The medical device company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $11.38 million. Bovie Medical had a negative net margin of 13.32% and a negative return on equity of 21.67%. The company’s revenue was up 17.3% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in BVX. Signaturefd LLC acquired a new stake in Bovie Medical during the 2nd quarter worth approximately $136,000. BlackRock Inc. lifted its holdings in Bovie Medical by 17.7% during the 2nd quarter. BlackRock Inc. now owns 106,961 shares of the medical device company’s stock worth $465,000 after buying an additional 16,115 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Bovie Medical during the 2nd quarter worth approximately $498,000. Boston Partners acquired a new stake in shares of Bovie Medical in the 2nd quarter valued at $620,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Bovie Medical by 46.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 147,350 shares of the medical device company’s stock valued at $641,000 after purchasing an additional 46,600 shares in the last quarter.
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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