Bioventus (NYSE:BVS) Shares Down 4.1% – Should You Sell?

Bioventus Inc. (NYSE:BVS) shares were down 4.1% on Wednesday . The stock traded as low as $10.92 and last traded at $11.12. Approximately 66,176 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 398,807 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

BVS has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum boosted their price objective on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Bioventus Price Performance

The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The firm has a market cap of $934.04 million, a P/E ratio of -18.85 and a beta of 0.88. The stock’s 50-day simple moving average is $12.04 and its two-hundred day simple moving average is $8.87.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same period in the prior year, the business posted $0.05 earnings per share. Equities research analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BVS. Virtus Fund Advisers LLC purchased a new stake in Bioventus in the third quarter worth about $42,000. Quest Partners LLC purchased a new stake in Bioventus in the third quarter worth about $51,000. Quarry LP purchased a new stake in Bioventus in the third quarter worth about $59,000. Acadian Asset Management LLC purchased a new stake in Bioventus in the first quarter worth about $28,000. Finally, Covestor Ltd purchased a new stake in Bioventus in the third quarter worth about $69,000. 62.94% of the stock is currently 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.