Canaccord Genuity Group Reiterates "Buy" Rating for Bioventus (NYSE:BVS)

Canaccord Genuity Group reiterated their buy rating on shares of Bioventus (NYSE:BVS - Free Report) in a research note released on Monday,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

Separately, JPMorgan Chase & Co. upgraded 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 report on Tuesday, December 17th.

Bioventus Stock Down 0.9 %

BVS stock traded down $0.09 during trading on Monday, reaching $9.65. The stock had a trading volume of 441,024 shares, compared to its average volume of 423,329. Bioventus has a one year low of $3.90 and a one year high of $14.38. The company's 50 day moving average is $10.09 and its two-hundred day moving average is $11.00. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $783.15 million, a price-to-earnings ratio of -15.82 and a beta of 0.86.

Insiders Place Their Bets

In other news, SVP Katrina J. Church sold 2,535 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the completion of the sale, the senior vice president now owns 47,264 shares in the company, valued at $497,689.92. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert E. Claypoole sold 28,786 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the transaction, the chief executive officer now owns 64,964 shares in the company, valued at approximately $591,172.40. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,950 shares of company stock valued at $522,437. Company insiders own 32.90% of the company's stock.

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Hedge Funds Weigh In On Bioventus

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of Bioventus by 106.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company's stock valued at $36,000 after purchasing an additional 1,786 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Bioventus during the 4th quarter valued at about $38,000. Virtus Fund Advisers LLC bought a new stake in shares of Bioventus in the 3rd quarter worth approximately $42,000. Quest Partners LLC purchased a new stake in shares of Bioventus in the 3rd quarter valued at $51,000. Finally, Quarry LP bought a new position in shares of Bioventus during the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 62.94% of the company's stock.

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.