$BVX PART FOUR In a photo finish RENN Capital Group
$BVX PART FOUR In a photo finish RENN Capital Group President Russell Cleveland's 2016 pick of Bovie Medical Inc. (NYSE:BVX -$2.70) for the 6th straight time edged old reliable Tom Putnam's fresh pick of National Commerce Corp. (NASDAQ:NCOM-$37.50) by a smidgen, up 59.76% to Tom's 59.57%.
What was my knee jerk reaction about Russ's first place? "IT'S ABOUT TIME!"
When Russ chose Bovie for the first time in 2011 shares rose 3.9% but in 2012 went down 11.2%. In 2013 Russell's pick climbed 38.8% but fell 44% in 2014 and fell again 24% to a ten year low in 2015.
At last shares jumped up over 59% in 2016.
What I am trying to get back to is everyone starting with the objectivity of a clean slate! When players stick with their last year's picks their stock performance tends to look like a rollercoaster ride.
All of our pros are fine stock pickers. We lose and miss their share of doubles, triples and occasional homeruns of 100% or more when they stick with old picks instead of making new ones.
Stubbornly Russ is sticking with Bovie Medical for the 7th consecutive year for his 2017 new pick. "Bovie Medical continues to make good progress with J-Plasma, a patented plasma- based surgical product for cutting and coagulation. Recently, Bovie announced a 510K clearance from the FDA for its Cool-Coag Generator and hand piece.
According to Bovie, this gives a surgeon the ability to use hot or cold applications to stop bleeding. This has very large potential in the surgical field. Last year (2016) the stock rose from $1.75 to $5.70.
Unfortunately, the company did an offering and was "taken to the cleaners" creating an opportunity for investors.
I am surprised a major company has not made a tender offer for such a valuable company. Bovie is forecasting another year of double-digit growth.
A real bargain at $2.70 a share.
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