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

Canaccord Genuity Group restated their buy rating on shares of Bioventus (NYSE:BVS) in a research note released on Monday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

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

Bioventus Trading Up 2.0 %

Shares of BVS stock opened at $9.80 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average price of $10.08 and a two-hundred day moving average price of $11.02. Bioventus has a 12-month low of $3.90 and a 12-month high of $14.38. The firm has a market cap of $795.32 million, a P/E ratio of -16.07 and a beta of 0.86.

Insider Activity

In other news, CEO Robert E. Claypoole sold 28,786 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the transaction, the chief executive officer now owns 64,964 shares of the company’s stock, valued at approximately $591,172.40. This represents a 30.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anthony D’adamio sold 4,380 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the transaction, the senior vice president now directly owns 118,178 shares of the company’s stock, valued at $1,204,233.82. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,932 shares of company stock valued at $512,511. Insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its stake in Bioventus by 11.3% during the 4th quarter. HighTower Advisors LLC now owns 13,617 shares of the company’s stock valued at $143,000 after purchasing an additional 1,380 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Bioventus by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 19,228 shares of the company’s stock valued at $202,000 after purchasing an additional 1,652 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Bioventus by 106.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company’s stock valued at $36,000 after buying an additional 1,786 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Bioventus by 17.0% during the 4th quarter. EP Wealth Advisors LLC now owns 14,096 shares of the company’s stock valued at $148,000 after buying an additional 2,047 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Bioventus by 26.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,194 shares of the company’s stock valued at $160,000 after buying an additional 3,153 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.