Bioventus (NYSE:BVS) Shares Gap Up – Still a Buy?

Bioventus Inc. (NYSE:BVS) gapped up prior to trading on Tuesday . The stock had previously closed at $8.76, but opened at $10.94. Bioventus shares last traded at $11.12, with a volume of 250,926 shares.

Analyst Ratings Changes

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

Bioventus Trading Up 21.9 %

The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The stock has a 50 day moving average of $10.12 and a 200 day moving average of $11.01. The firm has a market cap of $866.74 million, a P/E ratio of -17.27 and a beta of 0.86.

Insider Activity at Bioventus

In other Bioventus news, CEO Robert E. Claypoole sold 28,786 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the sale, the chief executive officer now directly owns 64,964 shares of the company’s stock, valued at $591,172.40. The trade was a 30.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Leonard Singleton sold 10,733 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the transaction, the chief financial officer now directly owns 105,162 shares in the company, valued at $1,107,355.86. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,932 shares of company stock valued at $512,511. Corporate insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BVS. Mackenzie Financial Corp bought a new stake in Bioventus in the 4th quarter worth $339,000. Toronto Dominion Bank bought a new stake in shares of Bioventus in the fourth quarter worth about $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bioventus during the 4th quarter valued at about $684,000. Sherbrooke Park Advisers LLC bought a new position in Bioventus during the 4th quarter valued at approximately $111,000. Finally, ProShare Advisors LLC purchased a new stake in Bioventus in the 4th quarter worth approximately $113,000. Institutional investors 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.