Canaccord Genuity Group Issues Positive Forecast for Bioventus (NYSE:BVS) Stock Price

Bioventus (NYSE:BVS) had its target price raised by Canaccord Genuity Group from $12.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 35.38% from the company’s previous close.

Separately, Craig Hallum raised their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th.

Bioventus Stock Performance

BVS traded down $0.40 during trading on Wednesday, hitting $11.08. The company’s stock had a trading volume of 556,101 shares, compared to its average volume of 397,414. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. Bioventus has a one year low of $3.36 and a one year high of $14.38. The firm has a market cap of $897.15 million, a PE ratio of -16.91 and a beta of 0.88. The business’s 50 day simple moving average is $11.66 and its 200-day simple moving average is $8.26.

Bioventus (NYSE:BVS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period last year, the firm earned $0.05 earnings per share. As a group, sell-side analysts predict that Bioventus will post 0.4 EPS for the current fiscal year.

Insider Activity at Bioventus

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction dated 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 transaction, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John A. Bartholdson bought 25,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was bought 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 directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Bartholdson bought 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $8.55 per share, with a total value of $684,000.00. Following the transaction, the director now directly owns 6,913,857 shares of the company’s stock, valued at $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bioventus

A number of hedge funds and other institutional investors have recently bought and sold shares of BVS. Acadian Asset Management LLC acquired a new position in Bioventus during the 1st quarter valued at approximately $28,000. Covestor Ltd acquired a new position in Bioventus during the 3rd quarter valued at approximately $69,000. CWM LLC acquired a new position in Bioventus during the 3rd quarter valued at approximately $89,000. Lazard Asset Management LLC acquired a new position in Bioventus during the 1st quarter valued at approximately $40,000. Finally, HB Wealth Management LLC acquired a new position in Bioventus during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

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.