Bioventus (NYSE:BVS) Sets New 52-Week High at $8.37

Bioventus Inc. (NYSE:BVS) shares hit a new 52-week high on Thursday . The company traded as high as $8.37 and last traded at $8.32, with a volume of 533724 shares changing hands. The stock had previously closed at $8.00.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Craig Hallum lifted their price target on shares of Bioventus from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group lifted their price objective on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday.

Bioventus Stock Performance

The stock has a market capitalization of $655.49 million, a price-to-earnings ratio of -22.86 and a beta of 0.84. The company’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $5.65. The company has a quick ratio of 0.97, a current ratio of 1.53 and a debt-to-equity ratio of 1.63.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $151.22 million for the quarter, compared to the consensus estimate of $137.70 million. Bioventus had a negative net margin of 4.14% and a positive return on equity of 11.91%. During the same period in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts expect that Bioventus Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In related news, CFO Mark Leonard Singleton sold 13,753 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $80,317.52. Following the completion of the sale, the chief financial officer now owns 63,114 shares of the company’s stock, valued at $368,585.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Anthony D’adamio sold 5,904 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $32,885.28. Following the sale, the senior vice president now directly owns 95,576 shares of the company’s stock, valued at $532,358.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Leonard Singleton sold 13,753 shares of Bioventus stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $80,317.52. Following the completion of the transaction, the chief financial officer now owns 63,114 shares in the company, valued at approximately $368,585.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,184 shares of company stock valued at $230,591. 32.90% of the stock is owned by company insiders.

Institutional Trading of Bioventus

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

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.