Bioventus Inc. (NYSE:BVS – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $11.15, but opened at $11.40. Bioventus shares last traded at $11.03, with a volume of 42,701 shares changing hands.
Analyst Ratings Changes
A number of research firms have issued reports on BVS. Craig Hallum boosted their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and upped their target price for the company from $12.00 to $13.00 in a report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.
View Our Latest Analysis on Bioventus
Bioventus Stock Performance
Bioventus (NYSE:BVS – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The business had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. Equities research analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bioventus
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in Bioventus by 100.4% in the second quarter. SG Americas Securities LLC now owns 25,315 shares of the company’s stock valued at $146,000 after acquiring an additional 12,684 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Bioventus in the 2nd quarter worth $647,000. HB Wealth Management LLC acquired a new position in Bioventus during the 2nd quarter valued at about $60,000. Panagora Asset Management Inc. purchased a new stake in Bioventus in the second quarter valued at about $787,000. Finally, Rhumbline Advisers raised its stake in Bioventus by 5,367.9% in the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock valued at $302,000 after buying an additional 51,478 shares during the last quarter. 62.94% of the stock is currently owned by hedge funds and other institutional investors.
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.
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