Craig Hallum Increases Bioventus (NYSE:BVS) Price Target to $17.00

Bioventus (NYSE:BVS) had its price objective raised by stock analysts at Craig Hallum from $12.00 to $17.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 53.85% from the company’s previous close.

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

Bioventus Trading Down 4.9 %

Shares of BVS stock opened at $11.05 on Friday. The company has a market capitalization of $894.72 million, a PE ratio of -31.57 and a beta of 0.89. Bioventus has a 52-week low of $2.85 and a 52-week high of $12.03. The business’s fifty day moving average is $9.14 and its 200 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.

Bioventus (NYSE:BVS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. During the same quarter last year, the firm posted $0.14 EPS. On average, equities research analysts anticipate that Bioventus will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bioventus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in Bioventus in the 1st quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new position in shares of Bioventus in the first quarter worth $40,000. HB Wealth Management LLC purchased a new position in shares of Bioventus in the second quarter worth $60,000. SG Americas Securities LLC bought a new stake in Bioventus during the 1st quarter valued at $66,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in Bioventus during the 2nd quarter valued at $67,000. Institutional investors own 62.94% of the company’s stock.

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.