Bioventus (NYSE:BVS) Shares Up 5.3% – Time to Buy?

Bioventus Inc. (NYSE:BVS) was up 5.3% during mid-day trading on Thursday . The stock traded as high as $11.63 and last traded at $11.63. Approximately 146,991 shares changed hands during trading, a decline of 63% from the average daily volume of 397,460 shares. The stock had previously closed at $11.04.

Analyst Ratings Changes

Several research firms recently commented on BVS. Canaccord Genuity Group lifted their price target on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum lifted their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th.

Bioventus Trading Up 5.0 %

The firm has a market cap of $940.53 million, a P/E ratio of -18.95 and a beta of 0.79. The company’s 50 day simple moving average is $12.12 and its 200-day simple moving average is $9.29. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85.

Bioventus (NYSE:BVS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 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 company had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, research analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Bioventus

Large investors have recently modified their holdings of the company. Virtus Fund Advisers LLC bought a new position in Bioventus in the third quarter worth approximately $42,000. Quest Partners LLC bought a new position in Bioventus in the third quarter worth approximately $51,000. Quarry LP bought a new stake in Bioventus during the 3rd quarter valued at $59,000. HB Wealth Management LLC bought a new stake in Bioventus during the 2nd quarter valued at $60,000. Finally, Covestor Ltd bought a new stake in Bioventus during the 3rd quarter valued at $69,000. 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.