Bioventus (NASDAQ:BVS) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of Bioventus Inc. (NASDAQ:BVS) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $10.95 and traded as low as $10.41. Bioventus shares last traded at $10.68, with a volume of 806,750 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on BVS. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of Bioventus in a research report on Monday, August 17th. Barrington Research set a $18.00 price objective on Bioventus in a research note on Thursday, August 6th. Canaccord Genuity Group reduced their price objective on Bioventus from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Craig Hallum reaffirmed a “buy” rating and set a $18.00 target price on shares of Bioventus in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Bioventus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.60.

Bioventus Stock Down 6.5%

The company has a market capitalization of $898.08 million, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.46 and a beta of 0.66. The business’s 50-day moving average is $13.50 and its 200-day moving average is $10.95. The company has a quick ratio of 1.17, a current ratio of 1.68 and a debt-to-equity ratio of 0.72.

Bioventus (NASDAQ:BVS) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $142.44 million for the quarter. Bioventus had a return on equity of 26.31% and a net margin of 9.78%. As a group, equities analysts predict that Bioventus Inc. will post 0.78 earnings per share for the current year.

Institutional Trading of Bioventus

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in Bioventus by 2,809.1% during the third quarter. Signaturefd LLC now owns 1,920 shares of the company’s stock worth $26,000 after acquiring an additional 1,854 shares during the period. USA Financial Formulas purchased a new position in Bioventus during the third quarter valued at approximately $42,000. Covestor Ltd lifted its holdings in Bioventus by 25.6% in the third quarter. Covestor Ltd now owns 5,808 shares of the company’s stock valued at $79,000 after acquiring an additional 1,182 shares during the period. Quantum Financial Partners LLC lifted its holdings in Bioventus by 11.8% in the third quarter. Quantum Financial Partners LLC now owns 14,200 shares of the company’s stock valued at $194,000 after acquiring an additional 1,500 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Bioventus by 446.4% in the third quarter. State of Alaska Department of Revenue now owns 18,953 shares of the company’s stock valued at $258,000 after acquiring an additional 15,484 shares during the period. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Bioventus Company Profile

Bioventus Inc is a medical device and biologics company focused on developing and commercializing products that support bone healing, joint health and surgical recovery. Its portfolio is designed to help healthcare professionals treat musculoskeletal conditions and improve patient outcomes through noninvasive therapies, injectable products and biologic solutions.

The company’s offerings include bone stimulation systems such as EXOGEN, which is used to support fracture healing, as well as injectable osteoarthritis treatments including DUROLANE and GELSYN-3.