Bovie Medical Co. (NYSE:BVX) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 675,573 shares, an increase of 4.9% from the October 31st total of 643,957 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 242,051 shares, the days-to-cover ratio is currently 2.8 days.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC acquired a new position in shares of Bovie Medical during the third quarter worth about $13,963,000. Perkins Capital Management Inc. increased its position in shares of Bovie Medical by 81.9% in the third quarter. Perkins Capital Management Inc. now owns 647,035 shares of the medical device company’s stock worth $3,371,000 after buying an additional 291,295 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Bovie Medical during the third quarter worth about $276,000. Cowen Prime Services LLC increased its position in shares of Bovie Medical by 439.6% in the third quarter. Cowen Prime Services LLC now owns 49,100 shares of the medical device company’s stock worth $256,000 after buying an additional 40,000 shares in the last quarter. Finally, Hilton Capital Management LLC acquired a new position in shares of Bovie Medical during the third quarter worth about $130,000.
Bovie Medical (NYSE:BVX) opened at 4.30 on Friday. The company’s 50-day moving average price is $4.69 and its 200 day moving average price is $3.25. Bovie Medical has a 12 month low of $1.56 and a 12 month high of $5.75. The firm’s market capitalization is $116.71 million.
Bovie Medical (NYSE:BVX) last announced its quarterly earnings data on Wednesday, October 26th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business earned $10.10 million during the quarter, compared to analyst estimates of $9.25 million. On average, equities research analysts predict that Bovie Medical will post ($0.10) earnings per share for the current year.
A number of research analysts recently issued reports on BVX shares. JMP Securities reiterated an “outperform” rating and set a $5.00 price objective on shares of Bovie Medical in a report on Wednesday, August 3rd. Zacks Investment Research cut Bovie Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, Piper Jaffray Cos. assumed coverage on Bovie Medical in a research report on Monday, November 21st. They set an “overweight” rating and a $6.00 price target for the company.
About Bovie Medical