Bioventus’ (BVS) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Bioventus (NYSE:BVS) in a report published on Monday,Benzinga reports. They currently have a $15.00 price target on the stock.

Separately, JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Bioventus Price Performance

Shares of NYSE:BVS opened at $9.93 on Monday. Bioventus has a one year low of $3.90 and a one year high of $14.38. The stock has a market capitalization of $805.87 million, a price-to-earnings ratio of -16.28 and a beta of 0.86. The company has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $11.01. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41.

Insider Activity

In other news, CFO Mark Leonard Singleton sold 10,733 shares of Bioventus stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the sale, the chief financial officer now owns 105,162 shares of the company’s stock, valued at $1,107,355.86. The trade was a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the transaction, the chief executive officer now owns 64,964 shares in the company, valued at $591,172.40. This trade represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,950 shares of company stock worth $522,437 over the last ninety days. 32.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bioventus

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of Bioventus by 1,138.9% in the 4th quarter. California State Teachers Retirement System now owns 33,697 shares of the company’s stock valued at $354,000 after purchasing an additional 30,977 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Bioventus during the fourth quarter worth about $339,000. Toronto Dominion Bank acquired a new position in shares of Bioventus in the 4th quarter valued at about $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bioventus during the 4th quarter worth about $684,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Bioventus during the 4th quarter worth approximately $111,000. 62.94% of the stock is 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.