Bioventus (NYSE:BVS) Trading Down 4.1% – Should You Sell?

Bioventus Inc. (NYSE:BVS) fell 4.1% during mid-day trading on Wednesday . The stock traded as low as $10.92 and last traded at $11.12. 66,176 shares traded hands during trading, a decline of 83% from the average session volume of 398,807 shares. The stock had previously closed at $11.59.

Analyst Ratings Changes

BVS has been the topic of several research reports. Canaccord Genuity Group upped their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Craig Hallum increased their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th.

Bioventus Trading Down 2.9 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The firm has a market capitalization of $912.99 million, a P/E ratio of -19.00 and a beta of 0.88. The firm has a 50 day simple moving average of $12.01 and a two-hundred day simple moving average of $8.84.

Bioventus (NYSE:BVS) last issued its quarterly earnings data 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 negative net margin of 7.11% and a positive return on equity of 15.61%. The business had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. During the same period in the prior year, the firm posted $0.05 EPS. Equities research analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Bioventus

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Bioventus by 100.7% during the second quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock worth $676,000 after purchasing an additional 58,954 shares during the period. Rhumbline Advisers grew its position in Bioventus by 5,367.9% during the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after buying an additional 51,478 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Bioventus during the second quarter worth about $647,000. Lazard Asset Management LLC purchased a new stake in shares of Bioventus during the 1st quarter valued at $40,000. Finally, Royce & Associates LP purchased a new position in shares of Bioventus in the 3rd quarter worth about $8,337,000. Institutional investors own 62.94% of the company’s stock.

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.