Bioventus (NYSE:BVS) Sets New 12-Month High – Here’s Why

Bioventus Inc. (NYSE:BVS) shares hit a new 52-week high on Wednesday . The company traded as high as $13.15 and last traded at $13.09, with a volume of 20910 shares changing hands. The stock had previously closed at $12.97.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BVS. Craig Hallum raised their target price on 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 raised their price objective on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th.

Bioventus Price Performance

The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average price is $10.95 and its two-hundred day moving average price is $7.76. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -38.14 and a beta of 0.90.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. The company had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period in the prior year, the company earned $0.14 earnings per share. Equities research analysts forecast 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 80,000 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the transaction, the director now owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John A. Bartholdson acquired 80,000 shares of the business’s stock in a transaction 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 completion of the acquisition, the director now owns 6,913,857 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Bartholdson bought 25,500 shares of the 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 completion of the purchase, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. This represents 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 owned by company insiders.

Institutional Trading of Bioventus

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Bioventus during the 1st quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new stake in shares of Bioventus in the first quarter valued at about $40,000. HB Wealth Management LLC acquired a new stake in shares of Bioventus in the second quarter valued at about $60,000. SG Americas Securities LLC purchased a new stake in shares of Bioventus during the first quarter worth about $66,000. Finally, Burns Matteson Capital Management LLC acquired a new position in shares of Bioventus during the 2nd quarter worth about $67,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Bioventus Company Profile

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.