Canaccord Genuity Group Issues Positive Forecast for Bioventus (NYSE:BVS) Stock Price

Bioventus (NYSE:BVS) had its price target raised by Canaccord Genuity Group from $12.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 35.38% from the stock’s current price.

Separately, Craig Hallum boosted 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 Performance

Shares of NYSE:BVS traded down $0.40 during mid-day trading on Wednesday, reaching $11.08. The company had a trading volume of 556,101 shares, compared to its average volume of 397,414. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The firm has a market cap of $897.15 million, a price-to-earnings ratio of -16.91 and a beta of 0.88. The company’s 50-day moving average price is $11.66 and its 200-day moving average price is $8.26. Bioventus has a one year low of $3.36 and a one year high of $14.38.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The business had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same period in the previous year, the business earned $0.05 EPS. As a group, equities research analysts anticipate that Bioventus will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $218,025.00. Following the completion of the purchase, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John A. Bartholdson acquired 80,000 shares of the stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $8.55 per share, with a total value of $684,000.00. Following the completion of the purchase, the director now owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $218,025.00. Following the completion of the purchase, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bioventus

A number of hedge funds and other institutional investors have recently bought and sold shares of BVS. Acadian Asset Management LLC bought a new position in Bioventus during the first quarter valued at approximately $28,000. Covestor Ltd bought a new position in Bioventus during the third quarter valued at approximately $69,000. CWM LLC bought a new position in Bioventus during the third quarter valued at approximately $89,000. Lazard Asset Management LLC bought a new position in Bioventus during the first quarter valued at approximately $40,000. Finally, HB Wealth Management LLC bought a new position in Bioventus during the second quarter valued at approximately $60,000. 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.