Bioventus (NYSE:BVS) Sets New 12-Month High – What’s Next?

Shares of Bioventus Inc. (NYSE:BVS) reached a new 52-week high during trading on Wednesday . The company traded as high as $13.65 and last traded at $13.58, with a volume of 77630 shares traded. The stock had previously closed at $13.31.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum increased their target price on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Bioventus Price Performance

The stock’s fifty day moving average price is $11.35 and its 200-day moving average price is $8.01. The firm has a market cap of $1.10 billion, a PE ratio of -20.70 and a beta of 0.90. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96.

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

Insider Activity at Bioventus

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

Institutional Investors Weigh In On Bioventus

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