Bioventus (NYSE:BVS) Reaches New 12-Month High at $11.52

Bioventus Inc. (NYSE:BVS) hit a new 52-week high during trading on Monday . The company traded as high as $11.52 and last traded at $11.52, with a volume of 1104 shares traded. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BVS. Canaccord Genuity Group lifted their target price on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Craig Hallum upped their price objective on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th.

Bioventus Price Performance

The firm has a market capitalization of $911.99 million, a PE ratio of -32.91 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. The stock has a 50-day moving average price of $8.27 and a 200 day moving average price of $6.45.

Bioventus (NYSE:BVS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share 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 during the quarter, compared to analysts’ expectations of $137.70 million. During the same period in the prior year, the business posted $0.14 earnings per share. Equities analysts forecast that Bioventus Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John A. Bartholdson bought 80,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Bioventus news, Director John A. Bartholdson purchased 80,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anthony D’adamio sold 5,904 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.57, for a total transaction of $32,885.28. Following the sale, the senior vice president now directly owns 95,576 shares of the company’s stock, valued at approximately $532,358.32. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bioventus

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in Bioventus during the first quarter worth about $28,000. Lazard Asset Management LLC acquired a new position in Bioventus in the first quarter valued at approximately $40,000. HB Wealth Management LLC purchased a new position in Bioventus in the second quarter worth approximately $60,000. Burns Matteson Capital Management LLC acquired a new stake in Bioventus during the second quarter worth $67,000. Finally, SG Americas Securities LLC purchased a new stake in Bioventus in the first quarter valued at $66,000. Hedge funds and other institutional investors 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.