Bioventus (NYSE:BVS) Reaches New 52-Week High on Analyst Upgrade

Bioventus Inc. (NYSE:BVS) hit a new 52-week high during trading on Friday after Craig Hallum raised their price target on the stock from $12.00 to $17.00. Craig Hallum currently has a buy rating on the stock. Bioventus traded as high as $12.34 and last traded at $12.05, with a volume of 154886 shares traded. The stock had previously closed at $11.05.

Separately, Canaccord Genuity Group boosted their target price on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th.

Insider Activity

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

Institutional Investors Weigh In On Bioventus

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Bioventus by 401.5% during the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock valued at $2,893,000 after buying an additional 402,841 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Bioventus during the 1st quarter valued at about $1,170,000. Panagora Asset Management Inc. bought a new position in shares of Bioventus in the 2nd quarter worth approximately $787,000. Bank of Montreal Can purchased a new position in shares of Bioventus in the second quarter worth approximately $774,000. Finally, American Century Companies Inc. grew its position in Bioventus by 289.5% during the second quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock valued at $973,000 after buying an additional 125,736 shares during the period. 62.94% of the stock is currently owned by institutional investors.

Bioventus Trading Up 5.3 %

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 firm has a market capitalization of $942.49 million, a PE ratio of -33.26 and a beta of 0.89. The stock’s fifty day simple moving average is $9.23 and its 200 day simple moving average is $6.88.

Bioventus (NYSE:BVS) last released 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. The company had revenue of $151.22 million for the quarter, compared to the consensus estimate of $137.70 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same period in the previous year, the business earned $0.14 earnings per share. On average, sell-side analysts predict that Bioventus Inc. will post 0.4 earnings per share for the current year.

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.