Canaccord Genuity Group Reiterates Buy Rating for Bioventus (NYSE:BVS)

Bioventus (NYSE:BVS)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a research note issued on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 54.40% from the stock’s previous close.

Separately, JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Stock Up 1.1 %

NYSE:BVS traded up $0.11 on Monday, reaching $9.72. The stock had a trading volume of 98,990 shares, compared to its average volume of 421,460. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average of $10.08 and a 200 day moving average of $11.02. The stock has a market cap of $788.42 million, a P/E ratio of -15.91 and a beta of 0.86. Bioventus has a 12-month low of $3.90 and a 12-month high of $14.38.

Insider Transactions at Bioventus

In other news, CFO Mark Leonard Singleton sold 10,733 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $113,018.49. Following the transaction, the chief financial officer now owns 105,162 shares of the company’s stock, valued at approximately $1,107,355.86. This trade represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katrina J. Church sold 2,535 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 transaction of $26,693.55. Following the transaction, the senior vice president now directly owns 47,264 shares in the company, valued at $497,689.92. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,932 shares of company stock valued at $512,511. Insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Several large investors have recently modified their holdings of BVS. HighTower Advisors LLC raised its stake in Bioventus by 11.3% during the fourth quarter. HighTower Advisors LLC now owns 13,617 shares of the company’s stock worth $143,000 after acquiring an additional 1,380 shares during the period. Principal Financial Group Inc. raised its stake in Bioventus by 9.4% during the fourth quarter. Principal Financial Group Inc. now owns 19,228 shares of the company’s stock worth $202,000 after acquiring an additional 1,652 shares during the period. Tower Research Capital LLC TRC raised its stake in Bioventus by 106.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company’s stock worth $36,000 after acquiring an additional 1,786 shares during the period. EP Wealth Advisors LLC raised its stake in Bioventus by 17.0% during the fourth quarter. EP Wealth Advisors LLC now owns 14,096 shares of the company’s stock worth $148,000 after acquiring an additional 2,047 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Bioventus by 26.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,194 shares of the company’s stock worth $160,000 after acquiring an additional 3,153 shares during the period. 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.