Bioventus (NYSE:BVS) Shares Gap Up to $10.53

Bioventus Inc. (NYSE:BVS) gapped up prior to trading on Thursday . The stock had previously closed at $10.53, but opened at $10.87. Bioventus shares last traded at $10.45, with a volume of 45,980 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Craig Hallum boosted their price target on Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group raised their price target on shares of 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 1.1 %

The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The business’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $6.36. The stock has a market cap of $843.12 million, a price-to-earnings ratio of -30.09 and a beta of 0.88.

Bioventus (NYSE:BVS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $151.22 million for the quarter, compared to the consensus estimate of $137.70 million. During the same period in the previous year, the firm earned $0.14 EPS. On average, research analysts predict that Bioventus Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mark Leonard Singleton sold 9,219 shares of Bioventus stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the completion of the sale, the chief financial officer now directly owns 84,895 shares in the company, valued at approximately $472,865.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director John A. Bartholdson acquired 80,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $59,113,477.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Leonard Singleton sold 9,219 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the transaction, the chief financial officer now owns 84,895 shares in the company, valued at $472,865.15. The disclosure for this sale can be found here. Insiders have sold 40,184 shares of company stock worth $230,591 in the last three months. 32.90% of the stock is currently owned by insiders.

Institutional Trading of Bioventus

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