Canaccord Genuity Group Reiterates Buy Rating for Bioventus (NYSE:BVS)

Canaccord Genuity Group reiterated their buy rating on shares of Bioventus (NYSE:BVS) in a research report released on Monday,Benzinga reports. The firm currently has a $15.00 target price on the stock.

Separately, JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Stock Performance

Shares of Bioventus stock opened at $9.93 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. Bioventus has a 1 year low of $3.90 and a 1 year high of $14.38. The firm’s 50-day simple moving average is $10.09 and its 200-day simple moving average is $11.01. The firm has a market cap of $805.87 million, a PE ratio of -16.28 and a beta of 0.86.

Insider Activity

In other news, SVP Anthony D’adamio sold 4,380 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the sale, the senior vice president now directly owns 118,178 shares of the company’s stock, valued at approximately $1,204,233.82. This represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katrina J. Church sold 2,535 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the transaction, the senior vice president now owns 47,264 shares in the company, valued at $497,689.92. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,950 shares of company stock valued at $522,437. 32.90% of the stock is currently owned by company insiders.

Institutional Trading of Bioventus

Several institutional investors have recently modified their holdings of BVS. Vanguard Group Inc. lifted its holdings in Bioventus by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock valued at $25,852,000 after acquiring an additional 388,174 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Bioventus by 33.7% in the fourth quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company’s stock valued at $11,758,000 after buying an additional 282,341 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bioventus by 7.5% in the third quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock valued at $11,241,000 after buying an additional 65,374 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Bioventus by 38.7% during the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company’s stock worth $9,289,000 after acquiring an additional 246,645 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Bioventus by 20.9% in the 4th quarter. Nuveen Asset Management LLC now owns 782,137 shares of the company’s stock worth $8,212,000 after acquiring an additional 135,236 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

About Bioventus

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.