Bioventus (NYSE:BVS) Sees Big Increase in Volume After Analyst Update

Shares of Bioventus Inc. (NYSE:BVS – Get Free Report ) saw unusually strong trading volume on Tuesday after Canaccord Genuity Group upped their target price for the stock from $8.00 to $12.00. Canaccord Genuity Group currently has a buy rating on the stock. About 229,395 shares were traded during trading, down 28% from the previous session’s volume of 318,661 shares. The stock last traded at $7.82 and previously closed at $7.56.

Separately, Craig Hallum boosted their target price on shares of Bioventus from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 7th.

Read the latest BVS research report

Insiders place their bets

In other Bioventus news, SVP Anthony D’adamio sold 5,904 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $32,885.28. Following the completion of the transaction, the senior vice president now owns 95,576 shares of the company’s stock, valued at approximately $532,358.32. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In related news, SVP Anthony D’adamio sold 5,904 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $32,885.28. Following the completion of the sale, the senior vice president now directly owns 95,576 shares in the company, valued at $532,358.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, CFO Mark Leonard Singleton sold 13,753 shares of Bioventus stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $5.84, for a total value of $80,317.52. Following the completion of the transaction, the chief financial officer now directly owns 63,114 shares in the company, valued at $368,585.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,184 shares of company stock worth $230,591. 32.90% of shares are currently owned by insiders.

Institutional investors intervene on Bioventus

Major investors have recently added to or reduced their stakes in the business. LSV Asset Management acquired a new position in shares of Bioventus in the first quarter worth about $1,170,000. Lazard Asset Management LLC purchased a new stake in shares of Bioventus in the 1st quarter worth about $40,000. Bailard Inc. bought a new position in shares of Bioventus in the fourth quarter valued at about $307,000. Quadrature Capital Ltd bought a new stake in Bioventus in the fourth quarter valued at $85,000. Finally, GSG Advisors LLC grew its position in Bioventus by 55.8% in the first quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock valued at $133,000 after buying an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s shares.

Bioventus trading up 4.5%

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97, and a current ratio of 1.53. The firm has a market cap of $625.41 million, a P/E ratio of -22.57 and a beta of 0.84. The firm has a 50 day simple moving average of $6.62 and a two hundred day simple moving average of $5.63.

Bioventus (NYSE:BVS – Get Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bioventus had a negative net margin of 4.14% and a positive return on equity of 11.91%. The business had revenue of $151.22 million during the quarter, compared to the consensus estimate of $137.70 million. During the same period in the previous year, the firm posted EPS of $0.14. Equities research analysts forecast that Bioventus Inc. will post 0.27 earnings per share for the current year.

Bioventus company profile

(Get a free report)

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 include non-surgical pain injection therapies, as well as peripheral nerve stimulation products such as Durolane, GELSYN-3 and SUPARTZ for the treatment of osteoarthritis of the knee and Stimrouter for the treatment of peripheral pain chronicles.

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