Bioventus (NYSE:BVS) Stock Rating Lowered by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Bioventus (NYSE:BVSGet Rating) from a buy rating to a hold rating in a research report released on Wednesday morning, Marketbeat reports. Canaccord Genuity Group currently has $6.00 price objective on the stock, down from their previous price objective of $18.00.

Other equities analysts have also issued research reports about the stock. Morgan Stanley decreased their target price on shares of Bioventus from $12.00 to $11.00 and set an overweight rating for the company in a research report on Tuesday, October 11th. JPMorgan Chase & Co. lowered shares of Bioventus from an overweight rating to an underweight rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $8.80.

Bioventus Stock Up 2.5 %

BVS stock opened at $3.32 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.39 and a debt-to-equity ratio of 0.68. Bioventus has a fifty-two week low of $2.25 and a fifty-two week high of $16.47. The firm’s 50-day simple moving average is $6.89 and its 200 day simple moving average is $7.97. The stock has a market cap of $257.13 million, a PE ratio of -11.86 and a beta of 1.85.

Bioventus (NYSE:BVSGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $140.33 million during the quarter, compared to analyst estimates of $140.01 million. Bioventus had a positive return on equity of 7.45% and a negative net margin of 3.26%. During the same period last year, the business earned $0.16 EPS. As a group, sell-side analysts predict that Bioventus will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Bioventus

Several large investors have recently made changes to their positions in BVS. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Bioventus during the 1st quarter valued at about $30,000. DAVENPORT & Co LLC boosted its position in shares of Bioventus by 149.5% during the 1st quarter. DAVENPORT & Co LLC now owns 36,679 shares of the company’s stock valued at $517,000 after purchasing an additional 21,978 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Bioventus during the 1st quarter valued at about $279,000. Stephens Inc. AR boosted its position in shares of Bioventus by 27.0% during the 1st quarter. Stephens Inc. AR now owns 234,346 shares of the company’s stock valued at $3,304,000 after purchasing an additional 49,760 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Bioventus by 8.7% during the 1st quarter. Royce & Associates LP now owns 1,943,183 shares of the company’s stock valued at $27,399,000 after purchasing an additional 154,978 shares in the last quarter. Institutional investors own 44.62% of the company’s stock.

Bioventus Company Profile

(Get Rating)

Bioventus Inc a medical device company, focuses on developing and commercializing clinical 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 joint pain injection therapies, as well as peripheral nerve stimulation products.

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Analyst Recommendations for Bioventus (NYSE:BVS)

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