Bioventus (NYSE:BVS) Trading Up 3.8% – Still a Buy?

Bioventus Inc. (NYSE:BVS) shares rose 3.8% during mid-day trading on Wednesday . The company traded as high as $8.05 and last traded at $8.00. Approximately 293,586 shares were traded during trading, an increase of 30% from the average daily volume of 225,084 shares. The stock had previously closed at $7.71.

Bioventus Price Performance

The company has a market capitalization of $662.10 million, a P/E ratio of -13.11 and a beta of 0.80. The business’s 50-day moving average is $7.51 and its two-hundred day moving average is $7.15. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85.

Insider Activity at Bioventus

In related news, Director Guy P. Nohra sold 10,000 shares of Bioventus stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $7.57, for a total transaction of $75,700.00. Following the sale, the director directly owned 116,610 shares in the company, valued at approximately $882,737.70. This trade represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michelle Mcmurry-Heath sold 17,701 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $7.42, for a total value of $131,341.42. Following the completion of the transaction, the director owned 56,997 shares of the company’s stock, valued at $422,917.74. This trade represents a 23.70% decrease in their position. The SEC filing for this sale provides additional information. 33.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bioventus

Several institutional investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC purchased a new stake in Bioventus during the second quarter worth about $67,000. Covestor Ltd grew its position in shares of Bioventus by 28.0% during the 3rd quarter. Covestor Ltd now owns 9,951 shares of the company’s stock valued at $67,000 after acquiring an additional 2,176 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Bioventus during the 2nd quarter worth approximately $72,000. HB Wealth Management LLC purchased a new stake in shares of Bioventus during the 3rd quarter worth approximately $72,000. Finally, Olympiad Research LP bought a new stake in shares of Bioventus in the 3rd quarter worth approximately $74,000. Institutional investors own 62.94% of the company’s stock.

Bioventus Company Profile

Bioventus, Inc (NYSE: BVS) is a global medical technology company focused on providing innovative therapeutic solutions to enhance patient care in musculoskeletal health. The company develops, manufactures, and markets a range of products designed to promote bone healing, support joint health, and relieve pain non-invasively. Bioventus leverages biologic and biophysical approaches to deliver effective therapies that aim to accelerate recovery times and improve overall patient outcomes.

Bioventus’s product portfolio includes its flagship EXOGEN® Bone Healing System, an ultrasound-based device indicated for non-union fractures and fracture healing enhancement.