Bioventus (NYSE:BVS) Price Target Increased to $8.00 by Analysts at Canaccord Genuity Group

Bioventus (NYSE:BVS) had its price objective raised by analysts at Canaccord Genuity Group from $7.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 46.52% from the company’s previous close.

Separately, Craig Hallum raised their price target on shares of Bioventus from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th.

Bioventus Trading Up 8.3 %

NYSE:BVS opened at $5.46 on Wednesday. Bioventus has a 12-month low of $1.00 and a 12-month high of $6.08. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.53 and a quick ratio of 1.01. The business has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $4.60. The firm has a market capitalization of $432.27 million, a P/E ratio of -2.17 and a beta of 0.63.

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

Insider Activity at Bioventus

In other Bioventus news, CFO Mark Leonard Singleton sold 5,541 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $5.39, for a total transaction of $29,865.99. Following the transaction, the chief financial officer now owns 25,665 shares of the company’s stock, valued at approximately $138,334.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 15,720 shares of company stock worth $80,435 over the last ninety days. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC acquired a new stake in shares of Bioventus in the third quarter valued at $220,000. Barclays PLC acquired a new stake in Bioventus in the 3rd quarter valued at about $119,000. Bailard Inc. bought a new position in shares of Bioventus during the 4th quarter valued at about $307,000. Bank of New York Mellon Corp boosted its position in shares of Bioventus by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,293 shares of the company’s stock valued at $305,000 after purchasing an additional 3,434 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Bioventus by 13,474.4% in the 3rd quarter. Citigroup Inc. now owns 52,533 shares of the company’s stock worth $173,000 after purchasing an additional 52,146 shares during the last quarter. 62.94% of the stock is owned by institutional investors.

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.