Bioventus (NYSE:BVS) Trading Down 4% – Here’s What Happened

Bioventus Inc. (NYSE:BVS) shares traded down 4% on Wednesday . The company traded as low as $11.32 and last traded at $11.35. 113,131 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 397,296 shares. The stock had previously closed at $11.82.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Craig Hallum boosted their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Bioventus Trading Up 0.5 %

The company has a market cap of $949.51 million, a PE ratio of -19.18 and a beta of 0.79. The company’s 50 day simple moving average is $12.14 and its two-hundred day simple moving average is $9.31. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Bioventus (NYSE:BVS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts anticipate that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Bioventus

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Bioventus by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock valued at $11,241,000 after buying an additional 65,374 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Bioventus during the third quarter worth about $8,337,000. State Street Corp grew its holdings in shares of Bioventus by 38.8% during the third quarter. State Street Corp now owns 676,501 shares of the company’s stock worth $8,084,000 after purchasing an additional 189,216 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Bioventus by 401.5% during the second quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock worth $2,893,000 after purchasing an additional 402,841 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bioventus by 38.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after purchasing an additional 109,359 shares during the last quarter. 62.94% of the stock is currently 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.