Bovie Medical Co. (BVX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Bovie Medical Co. (NYSE:BVX) from a buy rating to a hold rating in a research note released on Tuesday morning.

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 restated 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 up 0.19% during mid-day trading on Tuesday, hitting $5.31. 35,314 shares of the stock were exchanged. Bovie Medical has a 52-week low of $1.56 and a 52-week high of $5.69. The firm’s market cap is $143.64 million. The stock has a 50-day moving average price of $4.33 and a 200 day moving average price of $2.49.

In other Bovie Medical news, insider John J. Mccarthy III bought 90,750 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were bought at an average cost of $3.30 per share, for a total transaction of $299,475.00. Following the acquisition, the insider now directly owns 115,750 shares in the company, valued at $381,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

An institutional investor recently raised its position in Bovie Medical stock. BlackRock Fund Advisors raised its stake in Bovie Medical Co. (NYSE:BVX) by 27.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 72,051 shares of the medical device company’s stock after buying an additional 15,305 shares during the period. BlackRock Fund Advisors owned approximately 0.27% of Bovie Medical worth $118,000 as of its most recent filing with the SEC.

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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