Bioventus (NYSE:BVS) Stock Price Expected to Rise, Craig Hallum Analyst Says

Bioventus (NYSE:BVS) had its price target raised by stock analysts at Craig Hallum from $15.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 91.16% from the stock’s current price.

Separately, Barrington Research assumed coverage on Bioventus in a research report on Monday, February 9th. They issued an “outperform” rating and a $13.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Bioventus Price Performance

Bioventus stock traded down $0.73 during mid-day trading on Friday, hitting $8.37. 180,112 shares of the company were exchanged, compared to its average volume of 272,959. The company has a market capitalization of $692.73 million, a PE ratio of -13.72 and a beta of 0.78. The business has a fifty day moving average of $8.10 and a 200 day moving average of $7.49. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. Bioventus has a 1-year low of $5.81 and a 1-year high of $11.25.

Institutional Investors Weigh In On Bioventus

Institutional investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC increased its position in Bioventus by 28.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 5,280,842 shares of the company’s stock worth $34,959,000 after purchasing an additional 1,155,192 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Bioventus in the 4th quarter valued at about $2,886,000. Kent Lake PR LLC bought a new stake in Bioventus during the 2nd quarter worth approximately $2,317,000. Kennedy Capital Management LLC raised its holdings in shares of Bioventus by 219.6% in the third quarter. Kennedy Capital Management LLC now owns 461,579 shares of the company’s stock valued at $3,088,000 after purchasing an additional 317,157 shares during the last quarter. Finally, Meros Investment Management LP purchased a new position in shares of Bioventus in the 4th quarter worth approximately $2,345,000. 62.94% of the stock is currently owned by institutional investors.

About Bioventus

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.