Bioventus Inc. (NYSE:BVS - Get Free Report)'s share price traded down 5.9% during trading on Monday . The stock traded as low as $9.82 and last traded at $9.82. 110,239 shares were traded during trading, a decline of 37% from the average session volume of 174,325 shares. The stock had previously closed at $10.44.
Wall Street Analysts Forecast Growth
BVS has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Bioventus from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, December 17th. Finally, Craig Hallum upped their price objective on shares of Bioventus from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, September 27th.
View Our Latest Research Report on BVS
Bioventus Stock Performance
The company has a market cap of $797.75 million, a P/E ratio of -16.11 and a beta of 0.85. The business has a 50 day moving average price of $11.49 and a two-hundred day moving average price of $10.03. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41.
Bioventus (NYSE:BVS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The firm had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, sell-side analysts anticipate that Bioventus Inc. will post 0.41 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Mark Leonard Singleton sold 10,733 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total transaction of $113,018.49. Following the completion of the transaction, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katrina J. Church sold 2,535 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now directly owns 47,264 shares of the company's stock, valued at $497,689.92. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.90% of the company's stock.
Institutional Investors Weigh In On Bioventus
Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Bioventus by 228.3% in the third quarter. JPMorgan Chase & Co. now owns 253,740 shares of the company's stock worth $3,032,000 after buying an additional 176,442 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Bioventus during the 3rd quarter worth approximately $210,000. Franklin Resources Inc. bought a new position in shares of Bioventus in the 3rd quarter worth approximately $1,011,000. Barclays PLC lifted its stake in shares of Bioventus by 24.2% in the 3rd quarter. Barclays PLC now owns 50,654 shares of the company's stock valued at $606,000 after purchasing an additional 9,854 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Bioventus by 7.5% during the third quarter. Geode Capital Management LLC now owns 940,496 shares of the company's stock valued at $11,241,000 after purchasing an additional 65,374 shares in the last quarter. 62.94% of the stock is owned by hedge funds and other institutional investors.
About Bioventus
(
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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.
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