Bioventus (NYSE:BVS) Trading Down 5.9% – Here’s Why

Shares of Bioventus Inc. (NYSE:BVS) fell 5.9% during mid-day trading on Monday . The stock traded as low as $9.82 and last traded at $9.82. 110,239 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 174,325 shares. The stock had previously closed at $10.44.

Analysts Set New Price Targets

A number of research firms have commented on BVS. Craig Hallum raised their price objective on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th. Finally, Canaccord Genuity Group upped their price objective on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Bioventus Stock Performance

The stock has a fifty day simple moving average of $11.55 and a two-hundred day simple moving average of $10.00. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock has a market cap of $798.57 million, a price-to-earnings ratio of -16.13 and a beta of 0.85.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The business had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same period last year, the firm posted $0.05 earnings per share. Analysts expect that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Bioventus

In other Bioventus news, CFO Mark Leonard Singleton sold 10,733 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the transaction, the chief financial officer now directly owns 105,162 shares in the company, valued at approximately $1,107,355.86. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the sale, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 32.90% of the company’s stock.

Institutional Trading of Bioventus

A number of institutional investors and hedge funds have recently bought and sold shares of BVS. Bank of New York Mellon Corp bought a new stake in Bioventus during the second quarter valued at $647,000. Rhumbline Advisers lifted its stake in Bioventus by 5,367.9% in the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock valued at $302,000 after buying an additional 51,478 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Bioventus by 403.1% during the 2nd quarter. Acadian Asset Management LLC now owns 27,956 shares of the company’s stock worth $159,000 after buying an additional 22,399 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Bioventus by 289.5% in the 2nd quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock valued at $973,000 after acquiring an additional 125,736 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bioventus by 100.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock valued at $676,000 after acquiring an additional 58,954 shares during the period. 62.94% of the stock is currently owned by institutional investors and hedge funds.

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.