Bioventus (NYSE:BVS) Shares Down 5.9% – Here’s Why

Bioventus Inc. (NYSE:BVS) was down 5.9% during trading on Monday . The stock traded as low as $9.82 and last traded at $9.82. Approximately 110,239 shares traded hands during trading, a decline of 37% from the average daily volume of 174,325 shares. The stock had previously closed at $10.44.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th. Craig Hallum lifted their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity Group upped their target price on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Bioventus Stock Up 0.3 %

The company has a market cap of $777.46 million, a price-to-earnings ratio of -15.70 and a beta of 0.85. The firm’s 50 day simple moving average is $11.41 and its 200-day simple moving average is $10.06. 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same quarter last year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Bioventus

In related news, CFO Mark Leonard Singleton sold 10,733 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total transaction of $113,018.49. Following the completion of the transaction, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. The trade was a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katrina J. Church sold 2,535 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by insiders.

Institutional Trading of Bioventus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of Bioventus during the second quarter valued at approximately $647,000. Rhumbline Advisers grew its stake in shares of Bioventus by 5,367.9% during the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after purchasing an additional 51,478 shares during the period. Acadian Asset Management LLC increased its stake in Bioventus by 403.1% in the second quarter. Acadian Asset Management LLC now owns 27,956 shares of the company’s stock valued at $159,000 after purchasing an additional 22,399 shares in the last quarter. American Century Companies Inc. lifted its holdings in Bioventus by 289.5% during the second quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock worth $973,000 after acquiring an additional 125,736 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bioventus by 100.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock valued at $676,000 after purchasing an additional 58,954 shares in the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

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.