Bioventus (NASDAQ:BVS) Hits New 12-Month High – What’s Next?

Bioventus Inc. (NASDAQ:BVS) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.85 and last traded at $13.8360, with a volume of 54574 shares trading hands. The stock had previously closed at $13.17.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Bioventus in a research note on Tuesday, June 2nd. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of Bioventus in a research report on Tuesday, June 16th. Finally, Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of Bioventus in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.75.

Bioventus Stock Down 0.4%

The company’s 50 day moving average price is $10.47 and its two-hundred day moving average price is $9.56. The company has a current ratio of 1.69, a quick ratio of 1.13 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.12 billion, a P/E ratio of 32.73, a PEG ratio of 1.72 and a beta of 0.63.

Bioventus (NASDAQ:BVS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $132.09 million for the quarter. Bioventus had a net margin of 4.94% and a return on equity of 29.97%. Equities analysts forecast that Bioventus Inc. will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC increased its stake in shares of Bioventus by 4.1% in the 4th quarter. Nantahala Capital Management LLC now owns 6,047,403 shares of the company’s stock worth $44,993,000 after purchasing an additional 236,741 shares in the last quarter. Vanguard Group Inc. grew its holdings in Bioventus by 4.4% during the third quarter. Vanguard Group Inc. now owns 2,924,788 shares of the company’s stock valued at $19,567,000 after purchasing an additional 122,749 shares during the period. Geode Capital Management LLC grew its holdings in Bioventus by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,120,238 shares of the company’s stock valued at $8,337,000 after purchasing an additional 19,388 shares during the period. State Street Corp increased its position in Bioventus by 1.7% in the fourth quarter. State Street Corp now owns 891,024 shares of the company’s stock worth $6,629,000 after buying an additional 14,590 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bioventus by 14.1% in the first quarter. Dimensional Fund Advisors LP now owns 873,138 shares of the company’s stock worth $7,971,000 after buying an additional 107,930 shares during the period. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Bioventus Company Profile

Bioventus, headquartered in Durham, North Carolina, is a global medical device company specializing in orthobiologic solutions aimed at accelerating healing and improving patient outcomes in musculoskeletal conditions. The company develops and commercializes a portfolio of non‐surgical therapies designed to address bone healing, osteoarthritis pain management and soft tissue repair. Its flagship EXOGEN® Ultrasound Bone Healing System utilizes low‐intensity pulsed ultrasound technology to stimulate bone growth and has been widely used in the management of delayed fractures and nonunions.