Bioventus (NYSE:BVS) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Bioventus (NYSE:BVS) from an underweight rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports. They currently have $13.00 target price on the stock, up from their previous target price of $12.00.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Craig Hallum boosted their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Bioventus Price Performance

Shares of Bioventus stock opened at $11.15 on Tuesday. Bioventus has a 1-year low of $3.90 and a 1-year high of $14.38. The company has a market capitalization of $904.88 million, a PE ratio of -18.28 and a beta of 0.79. 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 business has a 50-day moving average of $12.07 and a 200-day moving average of $9.62.

Bioventus (NYSE:BVS) last posted its quarterly earnings data 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 company had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. During the same period in the previous year, the business earned $0.05 EPS. As a group, equities analysts forecast that Bioventus will post 0.41 EPS for the current fiscal year.

Institutional Trading of Bioventus

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Bioventus by 7.5% in the third quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock worth $11,241,000 after buying an additional 65,374 shares during the period. Royce & Associates LP bought a new position in shares of Bioventus during the third quarter worth about $8,337,000. State Street Corp increased its holdings in shares of Bioventus by 38.8% in the 3rd quarter. State Street Corp now owns 676,501 shares of the company’s stock worth $8,084,000 after acquiring an additional 189,216 shares during the period. Renaissance Technologies LLC lifted its position in Bioventus by 401.5% in the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock valued at $2,893,000 after purchasing an additional 402,841 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bioventus by 38.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after purchasing an additional 109,359 shares during the period. 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.