Bioventus (NYSE:BVS) Reaches New 12-Month High – Time to Buy?

Bioventus Inc. (NYSE:BVS)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.45 and last traded at $12.33, with a volume of 80940 shares traded. The stock had previously closed at $12.13.

Analyst Upgrades and Downgrades

BVS has been the topic of several recent research reports. Craig Hallum increased their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group raised their price target on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th.

Bioventus Trading Up 1.5 %

The company’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $7.44. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The company has a market capitalization of $1.02 billion, a P/E ratio of -36.91 and a beta of 0.90.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 7.82% and a positive return on equity of 14.39%. During the same period in the prior year, the firm posted $0.14 earnings per share. Research analysts predict that Bioventus Inc. will post 0.4 earnings per share for the current year.

Insider Activity

In related news, Director John A. Bartholdson purchased 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the transaction, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bioventus news, Director John A. Bartholdson bought 80,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $8.55 per share, with a total value of $684,000.00. Following the completion of the transaction, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Bartholdson acquired 25,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was acquired 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. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC bought a new position in shares of Bioventus in the 3rd quarter valued at approximately $89,000. Mackenzie Financial Corp bought a new stake in shares of Bioventus in the 2nd quarter valued at $77,000. The Manufacturers Life Insurance Company bought a new stake in shares of Bioventus in the second quarter worth $87,000. Squarepoint Ops LLC lifted its stake in Bioventus by 13.8% in the second quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock valued at $150,000 after acquiring an additional 3,170 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Bioventus by 38.2% during the 2nd quarter. Marshall Wace LLP now owns 332,291 shares of the company’s stock worth $1,911,000 after buying an additional 91,843 shares during the period. 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.