Bioventus (NYSE:BVS) Sets New 1-Year High – Here’s Why

by · The Markets Daily

Bioventus Inc. (NYSE:BVS – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.45 and last traded at $12.33, with a volume of 80940 shares changing hands. The stock had previously closed at $12.13.

Analysts Set New Price Targets

A number of research firms have commented on BVS. Canaccord Genuity Group upped their price target on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum lifted their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Get Our Latest Research Report on BVS

Bioventus Price Performance

The stock has a market cap of $995.12 million, a PE ratio of -35.91 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The business has a fifty day simple moving average of $10.11 and a two-hundred day simple moving average of $7.34.

Bioventus (NYSE:BVS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $151.22 million during the quarter, compared to the consensus estimate of $137.70 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. Research analysts forecast that Bioventus Inc. will post 0.4 earnings per share for the current year.

Insider Activity at Bioventus

In related news, Director John A. Bartholdson acquired 80,000 shares of Bioventus stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price 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 approximately $59,113,477.35. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John A. Bartholdson purchased 25,500 shares of the business’s 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 completion of the acquisition, the director now directly 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 SEC, which can be accessed through this hyperlink. Also, Director John A. Bartholdson acquired 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the acquisition, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Bioventus

A number of institutional investors and hedge funds have recently modified their holdings of BVS. Acadian Asset Management LLC bought a new position in shares of Bioventus during the first quarter valued at $28,000. Lazard Asset Management LLC bought a new position in Bioventus during the 1st quarter valued at about $40,000. HB Wealth Management LLC purchased a new stake in shares of Bioventus during the 2nd quarter valued at about $60,000. SG Americas Securities LLC bought a new stake in shares of Bioventus in the first quarter worth approximately $66,000. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of Bioventus in the second quarter worth approximately $67,000. Institutional investors own 62.94% of the company’s stock.

About Bioventus

(Get Free Report)

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.

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