Bioventus (NYSE:BVS) Stock Price Up 5.5% – Time to Buy?

Shares of Bioventus Inc. (NYSE:BVS) shot up 5.5% on Tuesday . The stock traded as high as $12.13 and last traded at $12.13. 115,423 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 400,190 shares. The stock had previously closed at $11.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Craig Hallum increased their target price on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their target price on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Bioventus Trading Up 6.9 %

The stock’s 50-day simple moving average is $12.06 and its 200-day simple moving average is $9.02. 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 firm has a market capitalization of $997.33 million, a PE ratio of -18.85 and a beta of 0.88.

Bioventus (NYSE:BVS) last announced its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting 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 prior year, the company earned $0.05 EPS. As a group, sell-side analysts expect that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Bioventus

Several large investors have recently modified their holdings of BVS. SG Americas Securities LLC purchased a new position in Bioventus in the 1st quarter worth approximately $66,000. Acadian Asset Management LLC bought a new position in shares of Bioventus during the first quarter valued at $28,000. Lazard Asset Management LLC purchased a new stake in shares of Bioventus during the first quarter valued at $40,000. Kennedy Capital Management LLC increased its holdings in Bioventus by 66.8% in the 1st quarter. Kennedy Capital Management LLC now owns 120,134 shares of the company’s stock worth $625,000 after buying an additional 48,111 shares in the last quarter. Finally, Burns Matteson Capital Management LLC bought a new position in Bioventus during the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

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.