Bioventus (NYSE:BVS) Stock Price Down 4.1% – Time to Sell?

Bioventus Inc. (NYSE:BVS)’s share price fell 4.1% during mid-day trading on Wednesday . The company traded as low as $10.92 and last traded at $11.12. 66,176 shares changed hands during trading, a decline of 83% from the average session volume of 398,807 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Craig Hallum lifted their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Bioventus Stock Performance

The stock has a market capitalization of $912.99 million, a PE ratio of -19.00 and a beta of 0.88. The business has a 50 day moving average price of $12.01 and a 200 day moving average price of $8.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Bioventus (NYSE:BVS) last issued its earnings results 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 business had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. During the same period last year, the business posted $0.05 EPS. As a group, equities research analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BVS. Squarepoint Ops LLC increased its position in shares of Bioventus by 13.8% during the 2nd quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock valued at $150,000 after purchasing an additional 3,170 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in Bioventus during the third quarter valued at approximately $42,000. Quest Partners LLC bought a new position in Bioventus in the third quarter worth approximately $51,000. Quarry LP purchased a new position in shares of Bioventus during the 3rd quarter worth $59,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Bioventus during the 1st quarter valued at $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.