Bioventus (NYSE:BVS) Shares Gap Up – Here’s Why

Bioventus Inc. (NYSE:BVS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $11.15, but opened at $11.40. Bioventus shares last traded at $11.03, with a volume of 42,701 shares traded.

Wall Street Analyst Weigh In

BVS has been the subject of a number of analyst reports. Craig Hallum raised their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Canaccord Genuity Group upped their target price on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $13.00 in a report on Tuesday.

Bioventus Price Performance

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock has a market capitalization of $912.99 million, a P/E ratio of -18.39 and a beta of 0.79. The firm has a fifty day moving average price of $12.08 and a two-hundred day moving average price of $9.59.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The company had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same period in the prior year, the firm posted $0.05 EPS. As a group, analysts expect that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Bioventus

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new position in shares of Bioventus during the 3rd quarter worth about $1,011,000. Barclays PLC grew its position in shares of Bioventus by 24.2% in the 3rd quarter. Barclays PLC now owns 50,654 shares of the company’s stock worth $606,000 after buying an additional 9,854 shares during the last quarter. Geode Capital Management LLC grew its stake in Bioventus by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock worth $11,241,000 after buying an additional 65,374 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Bioventus during the 3rd quarter valued at approximately $144,000. Finally, Jane Street Group LLC raised its stake in Bioventus by 288.3% in the 3rd quarter. Jane Street Group LLC now owns 40,037 shares of the company’s stock worth $478,000 after acquiring an additional 29,726 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors.

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.