Bioventus (NYSE:BVS) Hits New 52-Week High – What’s Next?

Bioventus Inc. (NYSE:BVS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.15 and last traded at $13.09, with a volume of 20910 shares traded. The stock had previously closed at $12.97.

Analysts Set New Price Targets

BVS has been the topic of a number of recent research reports. Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group increased their target price on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

Bioventus Stock Up 0.1 %

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -37.06 and a beta of 0.90. The stock has a 50-day moving average of $10.74 and a 200-day moving average of $7.66. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts forecast that Bioventus Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Bioventus

In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of Bioventus stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John A. Bartholdson bought 80,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the director now directly owns 6,913,857 shares in the company, valued at $59,113,477.35. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Bartholdson purchased 25,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now directly owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is owned by corporate insiders.

Institutional Trading of Bioventus

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Bioventus during the 3rd quarter valued at $286,000. CWM LLC purchased a new stake in shares of Bioventus during the 3rd quarter worth about $89,000. Mackenzie Financial Corp acquired a new stake in shares of Bioventus during the 2nd quarter valued at about $77,000. The Manufacturers Life Insurance Company bought a new stake in shares of Bioventus in the 2nd quarter valued at approximately $87,000. Finally, Squarepoint Ops LLC increased its holdings in Bioventus by 13.8% in the second quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock worth $150,000 after buying an additional 3,170 shares during the last quarter. 62.94% of the stock is 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.