Bioventus (NYSE:BVS) Trading 5.5% Higher – Here’s Why

Bioventus Inc. (NYSE:BVS) was up 5.5% on Tuesday . The company traded as high as $12.13 and last traded at $12.13. Approximately 115,423 shares traded hands during trading, a decline of 71% from the average daily volume of 400,190 shares. The stock had previously closed at $11.50.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BVS shares. Canaccord Genuity Group raised their target price on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Craig Hallum raised their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Bioventus Stock Up 0.2 %

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’s fifty day moving average is $12.09 and its 200-day moving average is $9.09. The company has a market cap of $997.33 million, a PE ratio of -20.15 and a beta of 0.88.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same quarter last year, the company posted $0.05 earnings per share. On average, analysts predict that Bioventus Inc. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Bioventus during the 1st quarter valued at $28,000. Lazard Asset Management LLC bought a new stake in shares of Bioventus during the 1st quarter valued at $40,000. Virtus Fund Advisers LLC bought a new stake in shares of Bioventus during the 3rd quarter valued at $42,000. Quest Partners LLC bought a new stake in shares of Bioventus during the 3rd quarter valued at $51,000. Finally, Quarry LP bought a new stake 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.

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.