Bioventus (NYSE:BVS) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bioventus (NYSE:BVS) from an underweight rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $13.00 target price on the stock, up from their prior target price of $12.00.

BVS has been the topic of a number of other reports. Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group upped their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Bioventus Stock Performance

Shares of BVS opened at $10.52 on Tuesday. The company has a 50-day moving average of $12.04 and a two-hundred day moving average of $9.63. The stock has a market cap of $853.75 million, a P/E ratio of -17.25 and a beta of 0.79. Bioventus has a 12-month low of $3.90 and a 12-month high of $14.38. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same period in the previous year, the firm posted $0.05 EPS. As a group, research analysts predict that Bioventus will post 0.41 EPS for the current fiscal year.

Institutional Trading of Bioventus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Bioventus by 38.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock worth $4,662,000 after acquiring an additional 109,359 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bioventus by 100.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock valued at $676,000 after buying an additional 58,954 shares during the period. Rhumbline Advisers increased its holdings in shares of Bioventus by 5,367.9% during the 2nd quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after buying an additional 51,478 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Bioventus in the 3rd quarter worth $4,515,000. Finally, Point72 Asset Management L.P. acquired a new position in Bioventus in the third quarter valued at $788,000. Hedge funds and other 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.