Bioventus (NYSE:BVS) Shares Down 4.1% – Should You Sell?

Bioventus Inc. (NYSE:BVS)’s stock price was down 4.1% during trading on Wednesday . The stock traded as low as $10.92 and last traded at $11.12. Approximately 66,176 shares traded hands during trading, a decline of 83% from the average daily volume of 398,807 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

BVS has been the subject of a number of research reports. Craig Hallum increased their price target on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Canaccord Genuity Group increased their price target on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Bioventus Stock Up 0.9 %

The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The company’s fifty day moving average is $12.04 and its 200-day moving average is $8.87. The company has a market cap of $934.04 million, a PE ratio of -18.85 and a beta of 0.88.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The business had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 million. During the same quarter last year, the company posted $0.05 EPS. On average, analysts predict that Bioventus Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Bioventus

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in shares of Bioventus in the first quarter worth $28,000. Lazard Asset Management LLC bought a new stake in Bioventus in the first quarter worth $40,000. Virtus Fund Advisers LLC bought a new stake in Bioventus in the third quarter worth $42,000. Quest Partners LLC bought a new stake in Bioventus in the third quarter worth $51,000. Finally, Quarry LP bought a new stake in Bioventus in the third quarter worth $59,000. 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.