Bioventus (NYSE:BVS) Shares Gap Up - Time to Buy?

Bioventus Inc. (NYSE:BVS) experienced a notable increase in its share price before trading commenced on Tuesday. Having previously closed at $11.15, the stock opened at $11.40. As of the last trade, Bioventus shares stood at $11.03, with a trading volume of 42,701 shares.

Analyst Opinions on Bioventus

BVS has drawn attention from various analysts recently. Notably, Craig Hallum raised their price target for Bioventus from $12.00 to $17.00 and assigned a "buy" rating in a report dated September 27th. Similarly, Canaccord Genuity Group increased their target for Bioventus shares from $12.00 to $15.00 and maintained a "buy" rating in a research note issued on November 6th. Additionally, JPMorgan Chase & Co. upgraded their rating on Bioventus from "underweight" to "neutral," while also raising their price target from $12.00 to $13.00.

Discover Our Latest Insights on BVS

Performance Metrics of Bioventus

Bioventus exhibits a debt-to-equity ratio of 1.85, a quick ratio of 0.99, and a current ratio of 1.41. The company has a market capitalization of approximately $912.99 million and a negative P/E ratio of -18.39. Its beta stands at 0.79. Notably, the stock's fifty-day moving average price is $12.08, and the two-hundred-day moving average price is $9.59.

The latest earnings report from Bioventus was released on November 5th, where the company reported earnings per share (EPS) of $0.06 for the quarter, matching the consensus estimate. Bioventus recorded a negative net margin of 7.11% but a positive return on equity of 15.61%. The company's revenue for the quarter was $138.96 million, exceeding the analyst estimates of $132.57 million. In comparison, the company reported an EPS of $0.05 during the same quarter of the previous year. Analysts generally anticipate that Bioventus will report an EPS of 0.41 for the current fiscal year.

Institutional Stake in Bioventus

Recent trading activity revealed that several institutional investors have modified their positions in Bioventus. Franklin Resources Inc. established a new position in the company during the third quarter, valued at approximately $1,011,000. Barclays PLC increased its holdings by 24.2% during the same period, bringing its total to 50,654 shares worth about $606,000 after adding 9,854 shares. Geode Capital Management LLC also boosted its stake in Bioventus by 7.5%, now owning 940,496 shares valued at $11,241,000. Meanwhile, EP Wealth Advisors LLC and Jane Street Group LLC also made adjustments, enhancing their stakes significantly. Currently, institutional investors hold approximately 62.94% of Bioventus stock.

Overview of Bioventus

Bioventus Inc. is a medical device company primarily focused on the development and commercialization of therapies that stimulate and enhance the body's natural healing processes, both in the United States and internationally. Its product lineup includes various non-surgical pain injection therapies, as well as peripheral nerve stimulation products like Durolane, GELSYN-3, and SUPARTZ for knee osteoarthritis treatment, along with Stimrouter for chronic peripheral pain management.

Investing Considerations

Before making investment decisions regarding Bioventus, it is crucial to consider recent analyst evaluations. Current recommendations include a "Moderate Buy" rating among analysts; however, top industry analysts suggest there are better investment options available. Investors aiming for high potential stocks might want to explore alternatives that analysts favor over Bioventus.

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