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 report published on Tuesday, MarketBeat Ratings reports. They currently have $13.00 price target on the stock, up from their prior price target of $12.00.

Several other analysts have also recently commented on the company. Craig Hallum lifted their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group boosted their target price on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Bioventus Stock Performance

NYSE:BVS opened at $11.15 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $904.88 million, a P/E ratio of -18.28 and a beta of 0.79. The firm has a 50-day moving average price of $12.07 and a two-hundred day moving average price of $9.62. Bioventus has a twelve month low of $3.90 and a twelve month high of $14.38.

Bioventus (NYSE:BVS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The business had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same quarter last year, the company earned $0.05 earnings per share. As a group, research analysts expect that Bioventus will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BVS. Virtus Fund Advisers LLC purchased a new position in Bioventus in the third quarter valued at about $42,000. Quest Partners LLC acquired a new stake in shares of Bioventus in the third quarter valued at about $51,000. Quarry LP purchased a new stake in shares of Bioventus during the 3rd quarter valued at about $59,000. HB Wealth Management LLC acquired a new position in Bioventus during the 2nd quarter worth approximately $60,000. Finally, Covestor Ltd acquired a new position in Bioventus during the 3rd quarter worth approximately $69,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

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.