Bioventus (NYSE:BVS) Trading Down 4.2%

Bioventus Inc. (NYSE:BVS)’s share price was down 4.2% during mid-day trading on Wednesday . The stock traded as low as $7.54 and last traded at $7.57. Approximately 114,139 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 322,632 shares. The stock had previously closed at $7.90.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Craig Hallum lifted their price objective on Bioventus from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Canaccord Genuity Group lifted their price target on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday.

Bioventus Trading Up 1.3 %

The company has a quick ratio of 0.97, a current ratio of 1.53 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $633.33 million, a P/E ratio of -22.57 and a beta of 0.84. The business has a fifty day moving average price of $6.62 and a 200 day moving average price of $5.63.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. The firm had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. During the same quarter in the previous year, the business posted $0.14 EPS. On average, analysts expect that Bioventus Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Bioventus

In other news, SVP Anthony D’adamio sold 11,308 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $66,038.72. Following the completion of the transaction, the senior vice president now directly owns 81,630 shares in the company, valued at approximately $476,719.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Bioventus news, CFO Mark Leonard Singleton sold 13,753 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $80,317.52. Following the sale, the chief financial officer now directly owns 63,114 shares of the company’s stock, valued at $368,585.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Anthony D’adamio sold 11,308 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $66,038.72. Following the completion of the sale, the senior vice president now owns 81,630 shares of the company’s stock, valued at approximately $476,719.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,184 shares of company stock worth $230,591. Insiders own 32.90% of the company’s stock.

Institutional Investors Weigh In On Bioventus

A number of institutional investors and hedge funds have recently modified their holdings of BVS. Acadian Asset Management LLC acquired a new position in Bioventus during the first quarter worth approximately $28,000. Hillsdale Investment Management Inc. raised its stake in Bioventus by 26.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company’s stock valued at $181,000 after acquiring an additional 7,200 shares during the period. Lazard Asset Management LLC acquired a new stake in Bioventus during the 1st quarter valued at $40,000. GSG Advisors LLC boosted its position in Bioventus by 55.8% during the first quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock worth $133,000 after purchasing an additional 9,500 shares during the period. Finally, HB Wealth Management LLC bought a new position in shares of Bioventus in the second quarter valued at about $60,000. 62.94% of the stock is owned by 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.