Bioventus (NYSE:BVS) PT Raised to $8.00 at Canaccord Genuity Group

Bioventus (NYSE:BVS) had its price objective raised by research analysts at Canaccord Genuity Group from $7.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 46.52% from the stock’s previous close.

Separately, Craig Hallum boosted their target price on shares of Bioventus from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th.

Bioventus Trading Up 8.3 %

BVS opened at $5.46 on Wednesday. The business has a fifty day moving average price of $4.87 and a 200 day moving average price of $4.60. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.53 and a quick ratio of 1.01. The stock has a market capitalization of $432.27 million, a price-to-earnings ratio of -2.17 and a beta of 0.63. Bioventus has a 12 month low of $1.00 and a 12 month high of $6.08.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, March 12th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Bioventus had a negative net margin of 30.49% and a positive return on equity of 2.25%. The firm had revenue of $135.42 million for the quarter, compared to analyst estimates of $124.84 million. Sell-side analysts expect that Bioventus will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Bioventus

In other news, CFO Mark Leonard Singleton sold 5,541 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $5.39, for a total transaction of $29,865.99. Following the completion of the sale, the chief financial officer now owns 25,665 shares in the company, valued at approximately $138,334.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 15,720 shares of company stock valued at $80,435 over the last three months. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Bioventus

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Bioventus by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 92,293 shares of the company’s stock worth $305,000 after buying an additional 3,434 shares during the period. GSG Advisors LLC raised its position in Bioventus by 55.8% in the 1st quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock valued at $133,000 after purchasing an additional 9,500 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Bioventus during the 1st quarter worth $66,000. Arete Wealth Advisors LLC purchased a new position in Bioventus during the 3rd quarter worth $43,000. Finally, Quadrature Capital Ltd acquired a new position in Bioventus in the fourth quarter valued at $85,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

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.