Bioventus (NYSE:BVS) Shares Gap Down – What’s Next?

Bioventus Inc. (NYSE:BVS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.71, but opened at $9.48. Bioventus shares last traded at $8.46, with a volume of 231,856 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BVS. Canaccord Genuity Group upped their price target on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum boosted their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, September 27th.

Bioventus Trading Down 1.7 %

The company’s 50-day moving average is $11.69 and its 200 day moving average is $8.31. 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 $913.34 million, a PE ratio of -17.09 and a beta of 0.88.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $138.96 million during the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, sell-side analysts predict that Bioventus Inc. will post 0.4 EPS for the current year.

Insider Transactions at Bioventus

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

Hedge Funds Weigh In On Bioventus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its holdings in Bioventus by 13.8% in the 2nd quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock worth $150,000 after acquiring an additional 3,170 shares during the period. Acadian Asset Management LLC bought a new position in Bioventus in the 1st quarter worth approximately $28,000. Covestor Ltd acquired a new stake in shares of Bioventus in the third quarter worth $69,000. Hillsdale Investment Management Inc. raised its stake in Bioventus by 26.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company’s stock valued at $181,000 after purchasing an additional 7,200 shares during the last quarter. Finally, CWM LLC acquired a new position in Bioventus during the 3rd quarter valued at $89,000. 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.