Bioventus (NYSE:BVS) Shares Gap Up – Should You Buy?

Bioventus Inc. (NYSE:BVS) gapped up prior to trading on Monday . The stock had previously closed at $8.51, but opened at $9.03. Bioventus shares last traded at $8.55, with a volume of 104,472 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Barrington Research started coverage on Bioventus in a research note on Monday. They issued an “outperform” rating and a $13.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.75.

Bioventus Trading Down 5.3%

The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $7.29. The stock has a market capitalization of $667.90 million, a price-to-earnings ratio of -13.23 and a beta of 0.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Insider Buying and Selling

In other Bioventus news, Director Guy P. Nohra sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $7.57, for a total transaction of $75,700.00. Following the sale, the director directly owned 116,610 shares in the company, valued at approximately $882,737.70. This trade represents a 7.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 33.00% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Large investors have recently bought and sold shares of the company. PharVision Advisers LLC bought a new position in shares of Bioventus in the 2nd quarter valued at about $67,000. Covestor Ltd boosted its position in Bioventus by 28.0% during the third quarter. Covestor Ltd now owns 9,951 shares of the company’s stock valued at $67,000 after purchasing an additional 2,176 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Bioventus in the second quarter valued at approximately $72,000. HB Wealth Management LLC bought a new position in Bioventus in the third quarter valued at approximately $72,000. Finally, Olympiad Research LP acquired a new position in shares of Bioventus during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Bioventus Company Profile

Bioventus, Inc (NYSE: BVS) is a global medical technology company focused on providing innovative therapeutic solutions to enhance patient care in musculoskeletal health. The company develops, manufactures, and markets a range of products designed to promote bone healing, support joint health, and relieve pain non-invasively. Bioventus leverages biologic and biophysical approaches to deliver effective therapies that aim to accelerate recovery times and improve overall patient outcomes.

Bioventus’s product portfolio includes its flagship EXOGEN® Bone Healing System, an ultrasound-based device indicated for non-union fractures and fracture healing enhancement.