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

Bioventus (NYSE:BVS) had its price objective boosted by equities research analysts at Craig Hallum from $12.00 to $17.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 46.05% from the stock’s previous close.

Separately, Canaccord Genuity Group lifted 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 Stock Up 5.3 %

Shares of Bioventus stock opened at $11.64 on Friday. Bioventus has a twelve month low of $2.85 and a twelve month high of $12.41. The company has a market cap of $942.49 million, a price-to-earnings ratio of -33.26 and a beta of 0.89. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The company’s 50 day moving average is $9.23 and its 200 day moving average is $6.88.

Bioventus (NYSE:BVS) last posted its 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 negative net margin of 7.82% and a positive return on equity of 14.39%. The company had revenue of $151.22 million during the quarter, compared to analysts’ expectations of $137.70 million. During the same period last year, the company posted $0.14 earnings per share. Research analysts anticipate that Bioventus will post 0.4 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BVS. Quadrature Capital Ltd bought a new position in shares of Bioventus during the 4th quarter worth approximately $85,000. GSG Advisors LLC raised 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 worth $133,000 after acquiring an additional 9,500 shares in the last quarter. LSV Asset Management bought a new position in shares of Bioventus during the 1st quarter worth approximately $1,170,000. SG Americas Securities LLC bought a new position in shares of Bioventus during the 1st quarter worth approximately $66,000. Finally, Acadian Asset Management LLC bought a new position in shares of Bioventus during the 1st quarter worth approximately $28,000. 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.