Bioventus (NYSE:BVS) Stock Rating Upgraded by JPMorgan Chase & Co.

Bioventus (NYSE:BVS) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $13.00 price target on the stock, up from their previous price target of $12.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.59% from the stock’s current price.

BVS has been the topic of a number of other reports. Craig Hallum upped their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Canaccord Genuity Group upped their target price on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Bioventus Price Performance

NYSE:BVS opened at $11.15 on Tuesday. 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 200-day moving average of $9.59. Bioventus has a 52 week low of $3.90 and a 52 week high of $14.38. The company has a market capitalization of $904.88 million, a price-to-earnings ratio of -18.28 and a beta of 0.79.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The firm had revenue of $138.96 million during the quarter, compared to analysts’ expectations of $132.57 million. During the same quarter last year, the company earned $0.05 earnings per share. As a group, equities research analysts anticipate that Bioventus will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Bioventus by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock worth $11,241,000 after acquiring an additional 65,374 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Bioventus during the third quarter worth approximately $8,337,000. State Street Corp grew its stake in shares of Bioventus by 38.8% during the third quarter. State Street Corp now owns 676,501 shares of the company’s stock valued at $8,084,000 after purchasing an additional 189,216 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bioventus by 401.5% in the second quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock valued at $2,893,000 after purchasing an additional 402,841 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Bioventus by 38.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock worth $4,662,000 after purchasing an additional 109,359 shares during the last quarter. 62.94% of the stock is 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.