Bioventus (NYSE:BVS) Reaches New 1-Year High at $10.53

Bioventus Inc. (NYSE:BVS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.53 and last traded at $10.36, with a volume of 41994 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum raised their price objective on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th.

Bioventus Price Performance

The company has a market cap of $828.32 million, a price-to-earnings ratio of -30.00 and a beta of 0.88. The company’s 50 day moving average price is $7.88 and its 200 day moving average price is $6.29. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating 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 company had revenue of $151.22 million during the quarter, compared to analysts’ expectations of $137.70 million. During the same period last year, the firm earned $0.14 EPS. On average, equities research analysts predict that Bioventus Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the purchase, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark Leonard Singleton sold 13,753 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $80,317.52. Following the completion of 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 filing with the SEC, which is accessible through this link. Also, Director John A. Bartholdson bought 25,500 shares of the 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 purchase, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 40,184 shares of company stock worth $230,591. Company insiders own 32.90% of the company’s stock.

Institutional Trading of Bioventus

Several institutional investors have recently added to or reduced their stakes in BVS. Renaissance Technologies LLC raised its holdings in Bioventus by 401.5% in the 2nd 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 in the last quarter. LSV Asset Management acquired a new position in Bioventus during the first quarter valued at approximately $1,170,000. Panagora Asset Management Inc. bought a new position in shares of Bioventus in the 2nd quarter valued at $787,000. Bank of Montreal Can acquired a new stake in Bioventus in the second quarter valued at about $774,000. Finally, American Century Companies Inc. grew its position in Bioventus by 289.5% in the second quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock valued at $973,000 after acquiring an additional 125,736 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors.

Bioventus Company Profile

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.