Craig Hallum Raises Bioventus (NYSE:BVS) Price Target to $17.00

Bioventus (NYSE:BVS) had its target price upped by Craig Hallum from $12.00 to $17.00 in a report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Canaccord Genuity Group raised their target price on Bioventus from $8.00 to $12.00 and gave the company a buy rating in a research note on Tuesday, August 13th.

Bioventus Stock Performance

Bioventus stock opened at $11.64 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a fifty day moving average price of $9.23 and a two-hundred day moving average price of $6.90. Bioventus has a 52-week low of $2.85 and a 52-week high of $12.41. The firm has a market capitalization of $921.49 million, a P/E ratio of -33.26 and a beta of 0.89.

Bioventus (NYSE:BVS) last announced its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The company had revenue of $151.22 million during the quarter, compared to analyst estimates of $137.70 million. During the same period last year, the company posted $0.14 earnings per share. As a group, analysts anticipate that Bioventus will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, Director John A. Bartholdson acquired 80,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 6,913,857 shares in the company, valued at $59,113,477.35. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John A. Bartholdson acquired 80,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 6,913,857 shares in the company, valued at $59,113,477.35. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Bartholdson acquired 25,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $218,025.00. Following the completion of the transaction, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The disclosure for this purchase can be found here. 32.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

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