Canaccord Genuity Group Increases Bioventus (NYSE:BVS) Price Target to $12.00

Bioventus (NYSE:BVS) had its target price hoisted by Canaccord Genuity Group from $8.00 to $12.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Craig Hallum boosted their target price on shares of Bioventus from $9.00 to $12.00 and gave the company a buy rating in a research report on Wednesday, August 7th.

Bioventus Stock Up 4.8 %

BVS stock opened at $8.68 on Tuesday. The business has a 50-day moving average of $6.72 and a 200-day moving average of $5.69. Bioventus has a fifty-two week low of $2.82 and a fifty-two week high of $8.68. The stock has a market capitalization of $687.16 million, a P/E ratio of -24.80 and a beta of 0.84. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.97.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. Bioventus had a negative net margin of 4.14% and a positive return on equity of 11.91%. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side analysts anticipate that Bioventus will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bioventus news, SVP Anthony D’adamio sold 11,308 shares of Bioventus stock in a transaction on Monday, June 17th. The stock was sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the transaction, the senior vice president now directly owns 81,630 shares of the company’s stock, valued at approximately $476,719.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Bioventus news, SVP Anthony D’adamio sold 11,308 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the transaction, the senior vice president now directly owns 81,630 shares of the company’s stock, valued at approximately $476,719.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Leonard Singleton sold 9,219 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the sale, the chief financial officer now directly owns 84,895 shares of the company’s stock, valued at approximately $472,865.15. The disclosure for this sale can be found here. Insiders have sold 40,184 shares of company stock valued at $230,591 over the last 90 days. 32.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

A number of institutional investors have recently modified their holdings of BVS. Acadian Asset Management LLC acquired a new stake in Bioventus in the first quarter valued at about $28,000. Lazard Asset Management LLC acquired a new stake in shares of Bioventus in the 1st quarter valued at approximately $40,000. HB Wealth Management LLC bought a new stake in shares of Bioventus during the 2nd quarter valued at approximately $60,000. Burns Matteson Capital Management LLC acquired a new position in Bioventus during the 2nd quarter worth approximately $67,000. Finally, SG Americas Securities LLC bought a new position in Bioventus in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds 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.