Canaccord Genuity Group Forecasts Strong Price Appreciation for Bioventus (NYSE:BVS) Stock

Bioventus (NYSE:BVS) had its target price boosted by equities research analysts at Canaccord Genuity Group from $12.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 33.45% from the company’s previous close.

Separately, Craig Hallum boosted their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Bioventus Price Performance

Shares of BVS stock opened at $11.24 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $910.10 million, a price-to-earnings ratio of -17.03 and a beta of 0.88. The firm’s 50 day moving average is $11.72 and its 200-day moving average is $8.33. Bioventus has a 1 year low of $3.36 and a 1 year high of $14.38.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The company had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same quarter last year, the firm earned $0.05 EPS. Sell-side analysts forecast that Bioventus will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the purchase, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bioventus news, Director John A. Bartholdson bought 80,000 shares of Bioventus stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the transaction, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average price 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. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

Institutional Investors Weigh In On Bioventus

A number of large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its stake in Bioventus by 13.8% during the second quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock worth $150,000 after buying an additional 3,170 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Bioventus during the 3rd quarter worth approximately $51,000. Acadian Asset Management LLC bought a new position in Bioventus in the first quarter valued at approximately $28,000. Covestor Ltd acquired a new position in Bioventus during the third quarter valued at approximately $69,000. Finally, Hillsdale Investment Management Inc. lifted its stake in Bioventus by 26.1% during the first quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company’s stock worth $181,000 after purchasing an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

Bioventus Company Profile

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.