Bioventus (NASDAQ:BVS) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Bioventus Inc. (NASDAQ:BVS)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.95 and traded as low as $10.41. Bioventus shares last traded at $10.68, with a volume of 806,750 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price target on shares of Bioventus in a research note on Monday, August 17th. Canaccord Genuity Group reduced their price objective on shares of Bioventus from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen cut shares of Bioventus from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barrington Research set a $18.00 target price on shares of Bioventus in a research note on Thursday, August 6th. Finally, Craig Hallum reiterated a “buy” rating and set a $18.00 price target on shares of Bioventus in a report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Bioventus currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Bioventus Price Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.17. The company has a market capitalization of $892.22 million, a PE ratio of 13.26, a PEG ratio of 1.68 and a beta of 0.66. The firm has a 50-day moving average of $13.44 and a 200 day moving average of $10.97.

Bioventus (NASDAQ:BVS) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Bioventus had a return on equity of 27.52% and a net margin of 9.78%. The company had revenue of $142.44 million during the quarter. As a group, research analysts anticipate that Bioventus Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd lifted its position in Bioventus by 25.6% during the third quarter. Covestor Ltd now owns 5,808 shares of the company’s stock valued at $79,000 after purchasing an additional 1,182 shares during the period. Quantum Financial Partners LLC boosted its holdings in Bioventus by 11.8% in the third quarter. Quantum Financial Partners LLC now owns 14,200 shares of the company’s stock worth $194,000 after purchasing an additional 1,500 shares during the last quarter. Signaturefd LLC boosted its holdings in Bioventus by 2,809.1% in the third quarter. Signaturefd LLC now owns 1,920 shares of the company’s stock worth $26,000 after purchasing an additional 1,854 shares during the last quarter. USA Financial Formulas bought a new stake in Bioventus in the 3rd quarter worth approximately $42,000. Finally, Allspring Global Investments Holdings LLC grew its position in Bioventus by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,874 shares of the company’s stock worth $1,170,000 after purchasing an additional 3,367 shares during the period. 62.94% of the stock is owned by hedge funds and other institutional investors.

Bioventus Company Profile

Bioventus Inc is a medical device and biologics company focused on developing and commercializing products that support bone healing, joint health and surgical recovery. Its portfolio is designed to help healthcare professionals treat musculoskeletal conditions and improve patient outcomes through noninvasive therapies, injectable products and biologic solutions.

The company’s offerings include bone stimulation systems such as EXOGEN, which is used to support fracture healing, as well as injectable osteoarthritis treatments including DUROLANE and GELSYN-3.