Bioventus (NYSE:BVS) Given Buy Rating at Canaccord Genuity Group

Bioventus (NYSE:BVS)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a note issued to investors on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 54.40% from the company’s current price.

Separately, JPMorgan Chase & Co. upgraded shares of Bioventus from an “underweight” rating to a “neutral” rating and raised their price target for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Bioventus Stock Performance

Shares of NYSE:BVS traded up $0.11 during trading hours on Monday, hitting $9.72. The stock had a trading volume of 98,990 shares, compared to its average volume of 421,460. The stock’s fifty day simple moving average is $10.08 and its 200 day simple moving average is $11.02. Bioventus has a 1-year low of $3.90 and a 1-year high of $14.38. The firm has a market capitalization of $788.42 million, a price-to-earnings ratio of -15.91 and a beta of 0.86. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41.

Insider Activity

In other news, SVP Anthony D’adamio sold 4,380 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the transaction, the senior vice president now directly owns 118,178 shares in the company, valued at $1,204,233.82. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katrina J. Church sold 2,535 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the completion of the transaction, the senior vice president now owns 47,264 shares of the company’s stock, valued at $497,689.92. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,932 shares of company stock worth $512,511 over the last three months. Corporate insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Bioventus by 106.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company’s stock valued at $36,000 after acquiring an additional 1,786 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in Bioventus during the third quarter worth approximately $42,000. Plato Investment Management Ltd bought a new stake in Bioventus during the fourth quarter worth approximately $38,000. Quest Partners LLC bought a new stake in Bioventus during the third quarter worth approximately $51,000. Finally, Quarry LP bought a new stake in Bioventus during the third quarter worth approximately $59,000. 62.94% of the stock is currently 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.