Bioventus (NYSE:BVS) Shares Gap Up – What’s Next?

Bioventus Inc. (NYSE:BVS) gapped up before the market opened on Tuesday . The stock had previously closed at $6.56, but opened at $7.12. Bioventus shares last traded at $7.84, with a volume of 413,674 shares changing hands.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald began coverage on Bioventus in a research report on Monday, July 7th. They issued an “overweight” rating and a $12.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.75.

Bioventus Trading Up 17.1%

The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The company has a fifty day moving average price of $6.94 and a 200-day moving average price of $6.87. The firm has a market cap of $634.97 million, a price-to-earnings ratio of -12.52 and a beta of 0.81.

Hedge Funds Weigh In On Bioventus

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of Bioventus by 119.7% in the 3rd quarter. Principal Financial Group Inc. now owns 55,626 shares of the company’s stock valued at $372,000 after purchasing an additional 30,305 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in shares of Bioventus by 3.1% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 299,760 shares of the company’s stock valued at $2,005,000 after purchasing an additional 9,060 shares in the last quarter. Covestor Ltd increased its stake in shares of Bioventus by 28.0% in the 3rd quarter. Covestor Ltd now owns 9,951 shares of the company’s stock valued at $67,000 after purchasing an additional 2,176 shares in the last quarter. Olympiad Research LP purchased a new position in shares of Bioventus in the 3rd quarter valued at about $74,000. Finally, HB Wealth Management LLC purchased a new position in shares of Bioventus in the 3rd quarter valued at about $72,000. 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.