Bioventus (NYSE:BVS) Price Target Increased to $8.00 by Analysts at Canaccord Genuity Group

Bioventus (NYSE:BVS) had its price objective raised by research analysts at Canaccord Genuity Group from $7.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 60.32% from the stock’s current price.

Separately, Craig Hallum increased their price target on shares of Bioventus from $6.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 13th.

Bioventus Stock Performance

NYSE BVS traded down $0.13 on Wednesday, hitting $4.99. 390,086 shares of the stock were exchanged, compared to its average volume of 179,401. The business’s fifty day moving average is $4.86 and its 200 day moving average is $4.58. Bioventus has a 52 week low of $0.95 and a 52 week high of $6.08. The company has a market capitalization of $395.06 million, a PE ratio of -1.97 and a beta of 0.63. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.53 and a quick ratio of 1.01.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Bioventus had a negative net margin of 30.49% and a positive return on equity of 2.25%. The company had revenue of $135.42 million for the quarter, compared to analysts’ expectations of $124.84 million. Research analysts anticipate that Bioventus will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Leonard Singleton sold 5,541 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $5.39, for a total transaction of $29,865.99. Following the sale, the chief financial officer now owns 25,665 shares of the company’s stock, valued at $138,334.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 15,720 shares of company stock worth $80,435 in the last quarter. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management acquired a new stake in Bioventus in the first quarter valued at about $1,170,000. Juniper Investment Company LLC increased its position in Bioventus by 2.7% during the 3rd quarter. Juniper Investment Company LLC now owns 6,833,857 shares of the company’s stock worth $22,552,000 after purchasing an additional 176,870 shares in the last quarter. Kent Lake Capital LLC lifted its stake in Bioventus by 15.0% in the 3rd quarter. Kent Lake Capital LLC now owns 1,035,168 shares of the company’s stock valued at $3,416,000 after purchasing an additional 135,168 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Bioventus in the third quarter valued at approximately $220,000. Finally, Bailard Inc. bought a new stake in shares of Bioventus during the fourth quarter worth $307,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

About Bioventus

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.