Bioventus (NYSE:BVS) Reaches New 1-Year High Following Insider Buying Activity

Shares of Bioventus Inc. (NYSE:BVS) hit a new 52-week high during trading on Wednesday following insider buying activity. The company traded as high as $9.12 and last traded at $8.82, with a volume of 155323 shares trading hands. The stock had previously closed at $8.20.

Specifically, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the purchase, the director now directly owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Bartholdson acquired 80,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the acquisition, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BVS. Canaccord Genuity Group upped their target price on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Craig Hallum boosted their price target on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th.

Bioventus Trading Up 11.2 %

The company has a market cap of $721.99 million, a price-to-earnings ratio of -26.06 and a beta of 0.84. The company has a quick ratio of 0.97, a current ratio of 1.53 and a debt-to-equity ratio of 1.63. The business’s fifty day simple moving average is $6.83 and its two-hundred day simple moving average is $5.78.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. The company had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same quarter last year, the company posted $0.14 earnings per share. On average, equities analysts predict that Bioventus Inc. will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bailard Inc. purchased a new position in shares of Bioventus in the 4th quarter valued at approximately $307,000. Jump Financial LLC purchased a new position in Bioventus in the 4th quarter valued at $122,000. Hillsdale Investment Management Inc. acquired a new position in Bioventus in the 4th quarter valued at $145,000. Quadrature Capital Ltd purchased a new position in Bioventus during the 4th quarter worth $85,000. Finally, GSG Advisors LLC lifted its stake in shares of Bioventus by 55.8% in the 1st quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock worth $133,000 after acquiring an additional 9,500 shares during the period. 62.94% of the stock is currently owned by institutional investors and hedge funds.

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.