Bioventus (NYSE:BVS) Sets New 12-Month High After Analyst Upgrade

Bioventus Inc. (NYSE:BVS) shares hit a new 52-week high during trading on Friday after Craig Hallum raised their price target on the stock from $12.00 to $17.00. Craig Hallum currently has a buy rating on the stock. Bioventus traded as high as $12.34 and last traded at $12.05, with a volume of 154886 shares trading hands. The stock had previously closed at $11.05.

Separately, Canaccord Genuity Group increased their target price on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

Insiders Place Their Bets

In related news, Director John A. Bartholdson acquired 25,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the purchase, the director now owns 6,939,357 shares in the company, valued at $59,331,502.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bioventus news, Director John A. Bartholdson bought 80,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the purchase, the director now directly owns 6,913,857 shares of the company’s stock, valued at $59,113,477.35. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The disclosure for this purchase can be found here. Corporate insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in Bioventus in the fourth quarter valued at approximately $122,000. Quadrature Capital Ltd bought a new stake in shares of Bioventus in the fourth quarter valued at approximately $85,000. GSG Advisors LLC lifted its stake in shares of Bioventus by 55.8% during the 1st quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock valued at $133,000 after buying an additional 9,500 shares in the last quarter. LSV Asset Management bought a new position in Bioventus in the 1st quarter worth approximately $1,170,000. Finally, SG Americas Securities LLC purchased a new position in Bioventus in the 1st quarter valued at approximately $66,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

Bioventus Price Performance

The business’s 50 day moving average is $9.14 and its two-hundred day moving average is $6.83. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market capitalization of $971.64 million, a PE ratio of -34.29 and a beta of 0.89.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The company had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same period in the previous year, the company posted $0.14 EPS. Equities research analysts anticipate that Bioventus Inc. will post 0.4 earnings per share for the current fiscal year.

Bioventus Company Profile

Bioventus Inc, a medical device company, focuses on developing and commercializing treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pain treatments, which comprise non-surgical pain injection therapies, as well as peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis and Stimrouter to treat chronic peripheral pain.