Bovie Medical Co. (NYSEAMERICAN:BVX) was the target of a large decline in short interest in the month of April. As of April 13th, there was short interest totalling 151,119 shares, a decline of 32.1% from the March 30th total of 222,436 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 49,025 shares, the days-to-cover ratio is presently 3.1 days.
Separately, Zacks Investment Research lowered shares of Bovie Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BVX. Archon Capital Management LLC grew its position in Bovie Medical by 2,841.7% in the fourth quarter. Archon Capital Management LLC now owns 2,208,538 shares of the medical device company’s stock worth $5,742,000 after acquiring an additional 2,133,462 shares in the last quarter. RTW Investments LP grew its position in Bovie Medical by 53.8% in the fourth quarter. RTW Investments LP now owns 1,752,611 shares of the medical device company’s stock worth $4,557,000 after acquiring an additional 613,011 shares in the last quarter. Royce & Associates LP purchased a new position in Bovie Medical in the fourth quarter worth $1,711,000. Millrace Asset Group Inc. grew its position in Bovie Medical by 83.9% in the fourth quarter. Millrace Asset Group Inc. now owns 579,400 shares of the medical device company’s stock worth $1,506,000 after acquiring an additional 264,400 shares in the last quarter. Finally, Cowen Prime Services LLC grew its position in Bovie Medical by 69.4% in the fourth quarter. Cowen Prime Services LLC now owns 295,041 shares of the medical device company’s stock worth $767,000 after acquiring an additional 120,871 shares in the last quarter.
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 analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $11.35 million for the quarter, compared to analysts’ expectations of $10.37 million. Bovie Medical had a negative net margin of 13.32% and a negative return on equity of 21.67%.
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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