Emerald Mutual Fund Advisers Trust Lowers Position in Bovie Medical Co. (BVX)

Emerald Mutual Fund Advisers Trust reduced its position in shares of Bovie Medical Co. (AMEX:BVX) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,000 shares of the medical device company’s stock after selling 10,000 shares during the period. Emerald Mutual Fund Advisers Trust owned 1.59% of Bovie Medical worth $1,210,000 at the end of the most recent reporting period.

Separately, Cowen Prime Services LLC increased its stake in shares of Bovie Medical by 62.3% in the first quarter. Cowen Prime Services LLC now owns 81,778 shares of the medical device company’s stock worth $218,000 after buying an additional 31,378 shares during the last quarter.

Bovie Medical Co. (AMEX:BVX) traded up 3.11% during midday trading on Friday, hitting $2.32. 12,186 shares of the stock were exchanged. The stock’s market cap is $71.59 million. Bovie Medical Co. has a 52 week low of $1.87 and a 52 week high of $5.75. The firm’s 50-day moving average is $2.47 and its 200 day moving average is $2.71.

Bovie Medical (AMEX:BVX) last released its quarterly earnings data on Wednesday, August 2nd. The medical device company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Bovie Medical had a negative net margin of 20.09% and a negative return on equity of 26.55%. The company had revenue of $9.80 million during the quarter, compared to analyst estimates of $8.60 million. Equities research analysts expect that Bovie Medical Co. will post ($0.11) EPS for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of Bovie Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th.

About Bovie Medical

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.

Institutional Ownership by Quarter for Bovie Medical (AMEX:BVX)

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