Bioventus (NYSE:BVS) Trading 5.5% Higher – Here’s Why

Bioventus Inc. (NYSE:BVS) rose 5.5% during mid-day trading on Tuesday . The company traded as high as $12.13 and last traded at $12.13. Approximately 115,423 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 400,190 shares. The stock had previously closed at $11.50.

Wall Street Analyst Weigh In

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

Bioventus Trading Up 0.2 %

The stock has a market cap of $997.33 million, a P/E ratio of -20.15 and a beta of 0.88. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock’s fifty day moving average is $12.09 and its 200 day moving average is $9.09.

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

Hedge Funds Weigh In On Bioventus

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Bioventus during the first quarter valued at approximately $66,000. Acadian Asset Management LLC bought a new position in Bioventus in the 1st quarter worth about $28,000. Lazard Asset Management LLC bought a new position in shares of Bioventus during the 1st quarter worth $40,000. Kennedy Capital Management LLC increased its holdings in Bioventus by 66.8% during the first quarter. Kennedy Capital Management LLC now owns 120,134 shares of the company’s stock valued at $625,000 after buying an additional 48,111 shares during the period. Finally, Burns Matteson Capital Management LLC bought a new stake in Bioventus during the 2nd quarter valued at $67,000. 62.94% of the stock is currently owned by institutional investors.

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.