Bioventus (NYSE:BVS) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Bioventus (NYSE:BVS) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

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

Bioventus Price Performance

NYSE BVS opened at $9.80 on Monday. The business’s fifty day moving average price is $10.08 and its 200-day moving average price is $11.02. The stock has a market capitalization of $795.32 million, a price-to-earnings ratio of -16.07 and a beta of 0.86. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. Bioventus has a 1-year low of $3.90 and a 1-year high of $14.38.

Insider Buying and Selling

In other Bioventus news, SVP Katrina J. Church sold 2,535 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.53, for a total transaction of $26,693.55. Following the sale, the senior vice president now directly owns 47,264 shares of the company’s stock, valued at $497,689.92. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $261,952.60. Following the sale, the chief executive officer now directly owns 64,964 shares in the company, valued at approximately $591,172.40. This represents a 30.71 % 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. 32.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bioventus

A number of institutional investors and hedge funds have recently bought and sold shares of BVS. Royce & Associates LP bought a new stake in Bioventus during the third quarter valued at about $8,337,000. Vanguard Group Inc. raised its holdings in Bioventus by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock valued at $25,852,000 after acquiring an additional 388,174 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Bioventus during the third quarter valued at about $4,515,000. Driehaus Capital Management LLC grew its position in shares of Bioventus by 33.7% during the fourth quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company’s stock valued at $11,758,000 after purchasing an additional 282,341 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bioventus during the third quarter valued at about $3,092,000. 62.94% of the stock is owned by institutional investors.

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.