Bioventus (NYSE:BVS) Shares Gap Up to $10.53

Shares of Bioventus Inc. (NYSE:BVS) gapped up before the market opened on Thursday . The stock had previously closed at $10.53, but opened at $10.87. Bioventus shares last traded at $10.45, with a volume of 45,980 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BVS shares. Craig Hallum boosted their price target on Bioventus from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. 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 report on Tuesday, August 13th.

Bioventus Price Performance

The stock has a market cap of $843.12 million, a PE ratio of -30.09 and a beta of 0.88. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The firm’s 50 day moving average price is $8.06 and its two-hundred day moving average price is $6.36.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $137.70 million. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, research analysts expect that Bioventus Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mark Leonard Singleton sold 9,219 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the sale, the chief financial officer now directly owns 84,895 shares in the company, valued at $472,865.15. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Bioventus news, SVP Anthony D’adamio sold 5,904 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.57, for a total value of $32,885.28. Following the transaction, the senior vice president now owns 95,576 shares in the company, valued at $532,358.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Leonard Singleton sold 9,219 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $51,349.83. Following the sale, the chief financial officer now owns 84,895 shares of the company’s stock, valued at $472,865.15. The disclosure for this sale can be found here. Insiders sold a total of 40,184 shares of company stock worth $230,591 in the last quarter. 32.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bioventus

Hedge funds have recently made changes to their positions in the business. Jump Financial LLC bought a new stake in Bioventus in the fourth quarter valued at $122,000. Hillsdale Investment Management Inc. bought a new stake in Bioventus during the 4th quarter valued at approximately $145,000. Quadrature Capital Ltd bought a new position in Bioventus in the fourth quarter worth $85,000. GSG Advisors LLC increased its stake in shares of Bioventus by 55.8% during the first quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock valued at $133,000 after purchasing an additional 9,500 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Bioventus during the first quarter valued at approximately $1,170,000. 62.94% of the stock is owned by hedge funds and other 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.