Bioventus (NYSE:BVS) Shares Up 6.2%

Bioventus Inc. (NYSE:BVS)’s stock price was up 6.2% during trading on Monday . The stock traded as high as $10.16 and last traded at $10.12. Approximately 136,074 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 373,750 shares. The stock had previously closed at $9.53.

Analysts Set New Price Targets

A number of research firms have weighed in on BVS. Craig Hallum boosted their target price on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group increased their target price on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

Bioventus Stock Performance

The company’s 50-day moving average price is $7.97 and its two-hundred day moving average price is $6.33. The company has a market capitalization of $801.16 million, a price-to-earnings ratio of -29.23 and a beta of 0.88. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96.

Bioventus (NYSE:BVS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The firm had revenue of $151.22 million during the quarter, compared to analyst estimates of $137.70 million. During the same period last year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Bioventus Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity at Bioventus

In other news, Director John A. Bartholdson bought 80,000 shares of Bioventus stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the purchase, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark Leonard Singleton sold 13,753 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $80,317.52. Following the sale, the chief financial officer now owns 63,114 shares in the company, valued at approximately $368,585.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Bartholdson purchased 80,000 shares of the company’s 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 transaction, the director now owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The disclosure for this purchase can be found here. Insiders have sold 40,184 shares of company stock worth $230,591 in the last quarter. Company insiders own 32.90% of the company’s stock.

Institutional Trading of Bioventus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in Bioventus in the 1st quarter valued at $28,000. Lazard Asset Management LLC bought a new position in shares of Bioventus in the first quarter valued at approximately $40,000. HB Wealth Management LLC purchased a new stake in shares of Bioventus during the second quarter valued at approximately $60,000. SG Americas Securities LLC bought a new stake in Bioventus during the first quarter worth $66,000. Finally, Burns Matteson Capital Management LLC purchased a new position in Bioventus in the second quarter worth $67,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

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.