Zacks Investment Research Downgrades Bioventus (NYSE:BVS) to Sell

Zacks Investment Research lowered shares of Bioventus (NYSE:BVSGet Rating) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Bioventus Inc. delivers clinically proven, cost-effective products which help people heal quickly and safely. It includes offerings for osteoarthritis, surgical and non-surgical bone healing. Bioventus Inc. is based in DURHAM, N.C. “

BVS has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on Bioventus from $19.00 to $17.00 and set a neutral rating for the company in a report on Monday, March 21st. Morgan Stanley dropped their target price on Bioventus from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Friday, March 11th. Finally, Craig Hallum assumed coverage on shares of Bioventus in a report on Tuesday, March 15th. They set a buy rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Bioventus currently has a consensus rating of Buy and a consensus price target of $21.67.

Shares of NYSE:BVS traded up $0.03 on Wednesday, hitting $7.52. 448 shares of the company’s stock were exchanged, compared to its average volume of 194,625. Bioventus has a 12 month low of $7.39 and a 12 month high of $19.94. The stock has a market capitalization of $574.45 million, a price-to-earnings ratio of -46.81 and a beta of 1.43. The business’s 50 day simple moving average is $12.66 and its two-hundred day simple moving average is $13.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.45 and a quick ratio of 1.11.

Bioventus (NYSE:BVSGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Bioventus had a net margin of 2.67% and a return on equity of 21.93%. During the same period in the prior year, the company earned ($0.02) earnings per share. Equities analysts forecast that Bioventus will post 0.73 EPS for the current fiscal year.

In other news, SVP Anthony D’adamio sold 16,016 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $11.19, for a total value of $179,219.04. Following the completion of the sale, the senior vice president now directly owns 148,309 shares in the company, valued at $1,659,577.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Nosenzo sold 65,963 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $11.12, for a total transaction of $733,508.56. Following the completion of the sale, the insider now directly owns 83,932 shares of the company’s stock, valued at approximately $933,323.84. The disclosure for this sale can be found here. Insiders have sold 83,807 shares of company stock valued at $934,645 over the last 90 days.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Bioventus during the first quarter worth about $30,000. PNC Financial Services Group Inc. boosted its stake in Bioventus by 1,845.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,140 shares of the company’s stock worth $30,000 after buying an additional 2,030 shares during the period. Legal & General Group Plc boosted its stake in Bioventus by 69.1% during the fourth quarter. Legal & General Group Plc now owns 2,757 shares of the company’s stock worth $40,000 after buying an additional 1,127 shares during the period. Denali Advisors LLC purchased a new position in Bioventus during the fourth quarter worth about $51,000. Finally, Royal Bank of Canada boosted its stake in Bioventus by 95.9% during the third quarter. Royal Bank of Canada now owns 5,045 shares of the company’s stock worth $71,000 after buying an additional 2,470 shares during the period. 86.85% of the stock is owned by hedge funds and other institutional investors.

Bioventus Company Profile (Get Rating)

Bioventus Inc a medical device company, focuses on developing and commercializing clinically treatments that engage and enhance the body's natural healing process in the United States and internationally. The company provides osteoarthritic joint pain treatment and joint preservation products, including Durolane, a single injection therapy; GELSYN-3, a three injection therapy; and SUPARTZ FX, a five injection therapy.

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