Bioventus (NYSE:BVS) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bioventus (NYSE:BVS - Free Report) from an underweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $13.00 price objective on the stock, up from their previous price objective of $12.00.

A number of other analysts have also recently weighed in on BVS. Craig Hallum increased their price target on Bioventus from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Canaccord Genuity Group raised their target price on shares of Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th.

Bioventus Price Performance

NYSE:BVS remained flat at $11.15 during trading hours on Tuesday. 240,470 shares of the company's stock were exchanged, compared to its average volume of 392,571. Bioventus has a 12 month low of $3.90 and a 12 month high of $14.38. The stock has a market cap of $904.88 million, a price-to-earnings ratio of -18.39 and a beta of 0.79. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The company's 50-day moving average is $12.08 and its 200 day moving average is $9.59.

Bioventus (NYSE:BVS - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The business had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same period in the previous year, the company earned $0.05 earnings per share. On average, analysts predict that Bioventus will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Bioventus

Several institutional investors and hedge funds have recently added to or reduced their stakes in BVS. Charles Schwab Investment Management Inc. grew its stake in Bioventus by 38.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company's stock valued at $4,662,000 after acquiring an additional 109,359 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Bioventus by 100.7% in the second quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company's stock worth $676,000 after buying an additional 58,954 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Bioventus by 5,367.9% during the 2nd quarter. Rhumbline Advisers now owns 52,437 shares of the company's stock valued at $302,000 after purchasing an additional 51,478 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Bioventus in the third quarter worth about $4,515,000. Finally, Point72 Asset Management L.P. bought a new stake in Bioventus during the third quarter worth approximately $788,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

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.