Archon Capital Management LLC boosted its stake in Bovie Medical Co. (NYSEAMERICAN:BVX) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,266,038 shares of the medical device company’s stock after purchasing an additional 57,500 shares during the period. Bovie Medical comprises approximately 0.7% of Archon Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Archon Capital Management LLC owned approximately 6.89% of Bovie Medical worth $6,730,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. grew its holdings in Bovie Medical by 104.1% during the 4th quarter. Salem Investment Counselors Inc. now owns 60,757 shares of the medical device company’s stock worth $158,000 after acquiring an additional 30,986 shares during the period. Raymond James & Associates acquired a new stake in Bovie Medical during the 4th quarter worth about $307,000. James Hambro & Partners acquired a new stake in Bovie Medical during the 4th quarter worth about $416,000. White Pine Capital LLC acquired a new stake in Bovie Medical during the 4th quarter worth about $659,000. Finally, Cowen Prime Services LLC grew its holdings in Bovie Medical by 6.9% during the 1st quarter. Cowen Prime Services LLC now owns 315,457 shares of the medical device company’s stock worth $937,000 after acquiring an additional 20,416 shares during the period.
BVX has been the subject of a number of recent analyst reports. TheStreet upgraded Bovie Medical from a “d” rating to a “c-” rating in a report on Monday, May 14th. Zacks Investment Research cut shares of Bovie Medical from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th.
Shares of Bovie Medical traded up $0.10, reaching $3.81, on Thursday, Marketbeat Ratings reports. 66,500 shares of the company were exchanged, compared to its average volume of 84,644. Bovie Medical Co. has a one year low of $2.17 and a one year high of $4.29.
Bovie Medical (NYSEAMERICAN:BVX) last announced its quarterly earnings results on Monday, March 12th. The medical device company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $10.37 million.
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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