Bioventus (NYSE:BVS) Sets New 52-Week High at $10.53

Bioventus Inc. (NYSE:BVS) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.53 and last traded at $10.36, with a volume of 41994 shares. The stock had previously closed at $10.50.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BVS shares. Craig Hallum lifted their target price on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group lifted their target price on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

Bioventus Trading Up 2.9 %

The firm has a market capitalization of $833.62 million, a PE ratio of -30.09 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The business’s fifty day moving average price is $8.06 and its 200 day moving average price is $6.36.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $151.22 million during the quarter, compared to the consensus estimate of $137.70 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, analysts expect that Bioventus Inc. will post 0.4 EPS for the current fiscal year.

Insider Transactions at Bioventus

In related news, SVP Anthony D’adamio sold 11,308 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the sale, the senior vice president now directly owns 81,630 shares in the company, valued at $476,719.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Anthony D’adamio sold 11,308 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the sale, the senior vice president now directly owns 81,630 shares in the company, valued at $476,719.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John A. Bartholdson bought 25,500 shares of the 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 acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The disclosure for this purchase can be found here. Insiders sold a total of 40,184 shares of company stock worth $230,591 over the last ninety days. 32.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in Bioventus during the first quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new position in Bioventus during the first quarter valued at approximately $40,000. HB Wealth Management LLC acquired a new position in Bioventus during the second quarter valued at approximately $60,000. Burns Matteson Capital Management LLC acquired a new position in shares of Bioventus during the second quarter worth $67,000. Finally, SG Americas Securities LLC acquired a new position in shares of Bioventus during the first quarter worth $66,000. 62.94% of the stock is owned by institutional investors and hedge funds.

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.