Bioventus (NYSE:BVS) Sees Strong Trading Volume

Bioventus Inc. (NYSE:BVS) shares saw unusually-high trading volume on Monday . Approximately 397,328 shares changed hands during mid-day trading, an increase of 15% from the previous session’s volume of 344,920 shares.The stock last traded at $8.16 and had previously closed at $8.68.

Analyst Upgrades and Downgrades

BVS has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Craig Hallum increased their price target on Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th.

Bioventus Stock Performance

The firm’s 50-day moving average is $6.72 and its two-hundred day moving average is $5.71. The company has a current ratio of 1.53, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The stock has a market cap of $647.58 million, a price-to-earnings ratio of -23.43 and a beta of 0.84.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. The firm had revenue of $151.22 million during the quarter, compared to analysts’ expectations of $137.70 million. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts expect that Bioventus Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other Bioventus news, CFO Mark Leonard Singleton sold 9,219 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.57, for a total value of $51,349.83. Following the completion of the sale, the chief financial officer now owns 84,895 shares in the company, valued at approximately $472,865.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bioventus news, CFO Mark Leonard Singleton sold 9,219 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the transaction, the chief financial officer now owns 84,895 shares of the company’s stock, valued at $472,865.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Anthony D’adamio sold 5,904 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $32,885.28. Following the completion of the sale, the senior vice president now directly owns 95,576 shares of the company’s stock, valued at $532,358.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,184 shares of company stock worth $230,591. 32.90% of the stock is owned by insiders.

Institutional Trading of Bioventus

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted 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 acquiring an additional 402,841 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Bioventus during the 1st quarter worth about $1,170,000. Panagora Asset Management Inc. purchased a new stake in Bioventus in the 2nd quarter valued at about $787,000. Bank of Montreal Can acquired a new position in Bioventus in the second quarter valued at about $774,000. Finally, American Century Companies Inc. boosted its stake 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 buying an additional 125,736 shares during the period. 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.