Bioventus (NYSE:BVS) Price Target Raised to $12.00

Bioventus (NYSE:BVS) had its price target boosted by Craig Hallum from $9.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Canaccord Genuity Group increased their price objective on shares of Bioventus from $7.00 to $8.00 and gave the company a buy rating in a research note on Wednesday, May 8th.

Bioventus Trading Down 0.1 %

Bioventus stock traded down $0.01 during midday trading on Wednesday, reaching $7.59. The stock had a trading volume of 361,824 shares, compared to its average volume of 318,808. The firm has a market cap of $600.87 million, a price-to-earnings ratio of -21.69 and a beta of 0.84. The company has a fifty day moving average of $6.57 and a 200 day moving average of $5.58. Bioventus has a 52-week low of $2.82 and a 52-week high of $8.36. The company has a quick ratio of 0.97, a current ratio of 1.53 and a debt-to-equity ratio of 1.63.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. Bioventus had a negative net margin of 4.14% and a positive return on equity of 11.91%. During the same period last year, the company posted $0.14 earnings per share. On average, analysts anticipate that Bioventus will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other Bioventus news, SVP Anthony D’adamio sold 11,308 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the sale, the senior vice president now directly owns 81,630 shares in the company, valued at $476,719.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bioventus news, SVP Anthony D’adamio sold 11,308 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the sale, the senior vice president now directly owns 81,630 shares in the company, valued at $476,719.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Leonard Singleton sold 9,219 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $5.57, for a total transaction of $51,349.83. Following the completion of the sale, the chief financial officer now owns 84,895 shares of the company’s stock, valued at $472,865.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,184 shares of company stock worth $230,591. Corporate insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BVS. Renaissance Technologies LLC increased its holdings in Bioventus by 401.5% in the second 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 in the last quarter. LSV Asset Management acquired a new stake in shares of Bioventus in the first quarter valued at about $1,170,000. American Century Companies Inc. grew its position in shares of Bioventus by 289.5% in the second quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock valued at $973,000 after purchasing an additional 125,736 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Bioventus in the second quarter valued at about $787,000. Finally, Kennedy Capital Management LLC grew its position in shares of Bioventus by 66.8% in the first quarter. Kennedy Capital Management LLC now owns 120,134 shares of the company’s stock valued at $625,000 after purchasing an additional 48,111 shares during the period. 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.