Bioventus (NYSE:BVS) Raised to “Neutral” at JPMorgan Chase & Co.

Bioventus (NYSE:BVS) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $13.00 target price on the stock, up from their prior target price of $12.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.53% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group upped their target price on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Craig Hallum raised their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th.

Bioventus Stock Down 4.8 %

Shares of BVS opened at $10.61 on Tuesday. The business has a fifty day moving average of $12.06 and a 200 day moving average of $9.63. The company has a market cap of $861.05 million, a PE ratio of -17.39 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. Bioventus has a 52-week low of $3.90 and a 52-week high of $14.38.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same period last year, the company earned $0.05 EPS. On average, sell-side analysts expect that Bioventus will post 0.41 EPS for the current year.

Institutional Trading of Bioventus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in shares of Bioventus in the third quarter worth $42,000. Quest Partners LLC acquired a new position in Bioventus in the 3rd quarter worth about $51,000. Quarry LP acquired a new position in shares of Bioventus during the 3rd quarter worth approximately $59,000. HB Wealth Management LLC purchased a new position in Bioventus during the second quarter valued at $60,000. Finally, Covestor Ltd acquired a new stake in shares of Bioventus in the third quarter valued at about $69,000. Institutional investors and hedge funds 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.