Bioventus (NYSE:BVS) Price Target Raised to $15.00

Bioventus (NYSE:BVS) had its price objective raised by research analysts at Canaccord Genuity Group from $12.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 33.45% from the stock’s current price.

Separately, Craig Hallum lifted their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th.

Bioventus Stock Performance

Shares of BVS stock opened at $11.24 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The firm has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $8.33. Bioventus has a 12 month low of $3.36 and a 12 month high of $14.38. The firm has a market capitalization of $910.10 million, a PE ratio of -17.03 and a beta of 0.88.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 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 firm earned $0.05 EPS. Analysts forecast that Bioventus will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the transaction, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Bioventus news, Director John A. Bartholdson bought 80,000 shares of Bioventus 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 completion of 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royce & Associates LP bought a new position in Bioventus in the third quarter valued at $8,337,000. Renaissance Technologies LLC boosted its holdings in shares of Bioventus by 401.5% in the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock worth $2,893,000 after purchasing an additional 402,841 shares in the last quarter. Marshall Wace LLP increased its position in shares of Bioventus by 38.2% during the 2nd quarter. Marshall Wace LLP now owns 332,291 shares of the company’s stock valued at $1,911,000 after purchasing an additional 91,843 shares during the last quarter. LSV Asset Management purchased a new position in shares of Bioventus during the 1st quarter valued at about $1,170,000. Finally, American Century Companies Inc. lifted its position in Bioventus by 289.5% in the 2nd quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock worth $973,000 after buying an additional 125,736 shares during the last quarter. 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.