Craig Hallum Raises Bioventus (NYSE:BVS) Price Target to $17.00

Bioventus (NYSE:BVS) had its price target hoisted by Craig Hallum from $12.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Canaccord Genuity Group upped their price objective on Bioventus from $8.00 to $12.00 and gave the stock a buy rating in a research report on Tuesday, August 13th.

Bioventus Trading Up 2.7 %

BVS opened at $11.95 on Friday. The stock has a market capitalization of $946.03 million, a price-to-earnings ratio of -34.14 and a beta of 0.89. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. Bioventus has a twelve month low of $2.85 and a twelve month high of $12.41. The company has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $6.94.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same quarter last year, the business posted $0.14 EPS. Analysts predict that Bioventus will post 0.4 EPS for the current fiscal year.

Insider Activity

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John A. Bartholdson bought 25,500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $8.55 per share, with a total value of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 80,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $8.55 per share, with a total value of $684,000.00. Following the purchase, the director now owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. The disclosure for this purchase can be found here. Insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd bought a new position in shares of Bioventus in the 4th quarter worth about $85,000. GSG Advisors LLC lifted its stake in Bioventus by 55.8% in the first quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock valued at $133,000 after buying an additional 9,500 shares during the period. LSV Asset Management bought a new position in shares of Bioventus during the 1st quarter worth approximately $1,170,000. SG Americas Securities LLC acquired a new stake in shares of Bioventus during the 1st quarter worth approximately $66,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Bioventus in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

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.