Bioventus (NYSE:BVS) Reaches New 52-Week High – Here’s What Happened

Bioventus Inc. (NYSE:BVS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.65 and last traded at $13.58, with a volume of 77630 shares traded. The stock had previously closed at $13.31.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BVS. Craig Hallum lifted their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Canaccord Genuity Group raised their price objective on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th.

Bioventus Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The firm has a market cap of $1.10 billion, a P/E ratio of 35.74 and a beta of 0.90. The company’s 50-day moving average is $11.51 and its two-hundred day moving average is $8.09.

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

Insider Activity

In other Bioventus news, Director John A. Bartholdson acquired 80,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost 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. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John A. Bartholdson bought 25,500 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $218,025.00. Following the completion of the purchase, the director now owns 6,939,357 shares in the company, valued at $59,331,502.35. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 80,000 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the acquisition, the director now directly owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. This represents a 0.00 % increase in their position. 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 bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Bioventus during the third quarter valued at about $210,000. Olympiad Research LP bought a new position in Bioventus in the 3rd quarter valued at approximately $251,000. Allspring Global Investments Holdings LLC acquired a new stake in Bioventus during the 3rd quarter worth approximately $286,000. CWM LLC bought a new stake in Bioventus during the 3rd quarter worth approximately $89,000. Finally, Mackenzie Financial Corp acquired a new position in Bioventus in the 2nd quarter valued at approximately $77,000. Institutional investors own 62.94% of the company’s stock.

About Bioventus

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.