Canaccord Genuity Group Reaffirms Buy Rating for Bioventus (NYSE:BVS)

Bioventus (NYSE:BVS)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity Group in a research note issued on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 56.90% from the stock’s previous close.

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

Bioventus Trading Down 2.4 %

NYSE:BVS opened at $9.56 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. Bioventus has a 12-month low of $3.90 and a 12-month high of $14.38. The firm has a market cap of $775.84 million, a P/E ratio of -15.67 and a beta of 0.86. The stock’s 50 day simple moving average is $10.08 and its 200-day simple moving average is $11.01.

Insiders Place Their Bets

In other news, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the transaction, the senior vice president now directly owns 47,264 shares of the company’s stock, valued at $497,689.92. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Anthony D’adamio sold 4,380 shares of the business’s stock in a transaction 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 approximately $1,204,233.82. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,950 shares of company stock worth $522,437. 32.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bioventus

A number of institutional investors have recently made changes to their positions in the stock. Royce & Associates LP acquired a new position in Bioventus in the third quarter valued at $8,337,000. Vanguard Group Inc. increased its stake in Bioventus by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock valued at $25,852,000 after purchasing an additional 388,174 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Bioventus in the third quarter valued at $4,515,000. Driehaus Capital Management LLC increased its stake in Bioventus by 33.7% in 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bioventus in the third quarter valued at $3,092,000. 62.94% of the stock is owned by institutional investors and hedge funds.

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.