Bioventus (NYSE:BVS) Trading 7.5% Higher – Time to Buy?

Shares of Bioventus Inc. (NYSE:BVS) traded up 7.5% during mid-day trading on Friday . The stock traded as high as $12.11 and last traded at $12.09. 202,348 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 392,177 shares. The stock had previously closed at $11.25.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Craig Hallum lifted their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group boosted their price target on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th.

Bioventus Stock Performance

The firm’s 50 day moving average price is $10.11 and its 200-day moving average price is $7.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market capitalization of $982.17 million, a PE ratio of -18.38 and a beta of 0.90.

Bioventus (NYSE:BVS) last issued its quarterly earnings results 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 firm had revenue of $151.22 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.14 EPS. On average, research analysts expect that Bioventus Inc. will post 0.4 EPS for the current year.

Insider Transactions at Bioventus

In related news, Director John A. Bartholdson bought 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John A. Bartholdson bought 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Bartholdson purchased 80,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $8.55 per share, with a total value of $684,000.00. Following the transaction, the director now directly owns 6,913,857 shares in the company, valued at $59,113,477.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BVS. Acadian Asset Management LLC purchased a new stake in shares of Bioventus during the 1st quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in shares of Bioventus during the 1st quarter worth $40,000. HB Wealth Management LLC purchased a new stake in shares of Bioventus during the 2nd quarter worth $60,000. SG Americas Securities LLC purchased a new stake in shares of Bioventus during the 1st quarter worth $66,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Bioventus during the 2nd quarter worth $67,000. Hedge funds and other institutional investors 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.