Bioventus (NYSE:BVS) Given New $8.00 Price Target at Canaccord Genuity Group

Bioventus (NYSE:BVS) had its price objective increased by Canaccord Genuity Group from $7.00 to $8.00 in a report released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Craig Hallum lifted their price objective on Bioventus from $6.00 to $9.00 and gave the stock a buy rating in a report on Wednesday, March 13th.

Bioventus Stock Performance

BVS traded up $0.42 during midday trading on Wednesday, reaching $5.46. The company’s stock had a trading volume of 403,019 shares, compared to its average volume of 185,407. The stock has a market cap of $432.27 million, a P/E ratio of -2.14 and a beta of 0.63. The company has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $4.60. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 1.66. Bioventus has a twelve month low of $1.00 and a twelve month high of $6.08.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $135.42 million for the quarter, compared to analyst estimates of $124.84 million. Bioventus had a positive return on equity of 2.25% and a negative net margin of 30.49%. Research analysts expect that Bioventus will post 0.16 earnings per share for the current year.

Insider Transactions at Bioventus

In related news, CFO Mark Leonard Singleton sold 5,541 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $5.39, for a total transaction of $29,865.99. Following the completion of the transaction, the chief financial officer now owns 25,665 shares in the company, valued at approximately $138,334.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 15,720 shares of company stock valued at $80,435. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

Several institutional investors have recently bought and sold shares of the business. Juniper Investment Company LLC raised its position in Bioventus by 2.7% in the 3rd quarter. Juniper Investment Company LLC now owns 6,833,857 shares of the company’s stock valued at $22,552,000 after purchasing an additional 176,870 shares during the last quarter. Kent Lake Capital LLC raised its position in shares of Bioventus by 15.0% during the third quarter. Kent Lake Capital LLC now owns 1,035,168 shares of the company’s stock worth $3,416,000 after acquiring an additional 135,168 shares during the last quarter. LSV Asset Management bought a new stake in shares of Bioventus during the first quarter worth $1,170,000. Bank of New York Mellon Corp raised its position in shares of Bioventus by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 92,293 shares of the company’s stock worth $305,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Bioventus during the third quarter worth $220,000. Institutional investors 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.