Bioventus (NYSE:BVS) Shares Gap Up – What’s Next?

Bioventus Inc. (NYSE:BVS) gapped up before the market opened on Tuesday . The stock had previously closed at $11.15, but opened at $11.40. Bioventus shares last traded at $11.03, with a volume of 42,701 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BVS. JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Tuesday. Craig Hallum lifted their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity Group lifted their price target on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Bioventus Trading Up 0.9 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The company has a 50 day moving average of $12.08 and a two-hundred day moving average of $9.59. The stock has a market cap of $912.99 million, a PE ratio of -18.39 and a beta of 0.79.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The firm had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same quarter in the previous year, the business earned $0.05 EPS. Sell-side analysts anticipate that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bioventus

Several institutional investors have recently bought and sold shares of BVS. Virtus Fund Advisers LLC acquired a new position in shares of Bioventus during the 3rd quarter worth approximately $42,000. Quest Partners LLC acquired a new position in shares of Bioventus during the 3rd quarter worth approximately $51,000. Quarry LP acquired a new position in shares of Bioventus during the 3rd quarter worth approximately $59,000. HB Wealth Management LLC acquired a new position in shares of Bioventus during the 2nd quarter worth approximately $60,000. Finally, Covestor Ltd purchased a new stake in Bioventus in the third quarter valued at $69,000. 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.