Bioventus (NYSE:BVS) Shares Gap Down - Should You Sell?

Bioventus Inc. (NYSE:BVS - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $13.71, but opened at $9.48. Bioventus shares last traded at $8.46, with a volume of 231,856 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped 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. Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, September 27th.

Bioventus Trading Down 16.3 %

The company has a market cap of $929.54 million, a PE ratio of -17.39 and a beta of 0.88. The stock's 50 day moving average is $11.66 and its 200-day moving average is $8.26. 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 (NYSE:BVS - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The business had revenue of $151.22 million for the quarter, compared to the consensus estimate of $137.70 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Bioventus Inc. will post 0.4 EPS for the current year.

Insider Activity

In related news, Director John A. Bartholdson purchased 80,000 shares of Bioventus stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $8.55 per share, with a total value of $684,000.00. Following the purchase, the director now directly owns 6,913,857 shares of the company's stock, valued at approximately $59,113,477.35. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of the company's stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now directly owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Bartholdson bought 80,000 shares of the company's stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the acquisition, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.90% of the company's stock.

Institutional Trading of Bioventus

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Bioventus by 100.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company's stock valued at $676,000 after buying an additional 58,954 shares in the last quarter. Rhumbline Advisers boosted its stake in Bioventus by 5,367.9% in the 2nd quarter. Rhumbline Advisers now owns 52,437 shares of the company's stock worth $302,000 after purchasing an additional 51,478 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Bioventus in the 2nd quarter worth approximately $647,000. LSV Asset Management acquired a new stake in Bioventus in the 1st quarter worth approximately $1,170,000. Finally, Lazard Asset Management LLC acquired a new stake in Bioventus in the 1st quarter worth approximately $40,000. 62.94% of the stock is currently owned by institutional investors.

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.