Bioventus (NYSE:BVS) Shares Down 5.9% – Here’s What Happened

Bioventus Inc. (NYSE:BVS) traded down 5.9% on Monday . The company traded as low as $9.82 and last traded at $9.82. 110,239 shares were traded during mid-day trading, a decline of 37% from the average session volume of 174,325 shares. The stock had previously closed at $10.44.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BVS shares. 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 research report on Tuesday, December 17th. Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Canaccord Genuity Group increased their price objective on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Bioventus Stock Down 5.7 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock’s 50 day moving average price is $11.55 and its 200-day moving average price is $10.00. The company has a market cap of $798.57 million, a PE ratio of -16.13 and a beta of 0.85.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $132.57 million. During the same quarter last year, the business posted $0.05 EPS. On average, analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Bioventus

In related news, CFO Mark Leonard Singleton sold 10,733 shares of the company’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 $113,018.49. Following the sale, the chief financial officer now directly owns 105,162 shares of the company’s stock, valued at $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the sale, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Bioventus by 38.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after buying an additional 109,359 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bioventus by 100.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock worth $676,000 after purchasing an additional 58,954 shares during the last quarter. Rhumbline Advisers boosted its stake in Bioventus by 5,367.9% in the 2nd quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after purchasing an additional 51,478 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Bioventus during the 3rd quarter valued at about $4,515,000. Finally, Point72 Asset Management L.P. purchased a new stake in Bioventus during the 3rd quarter valued at about $788,000. 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.