Bioventus (NYSE:BVS) Shares Move Up – Is It Time to Invest?

Bioventus Inc. (NYSE:BVS) experienced a notable increase in its share price before trading commenced on Tuesday. The stock, which had previously closed at $11.15, opened at $11.40. In recent trading, Bioventus shares were priced at $11.03, with a trading volume of 42,701 shares.

Insight from Wall Street Analysts

Bioventus has attracted attention from various analysts recently. On September 27th, Craig Hallum lifted their price target for Bioventus from $12.00 to $17.00, assigning a "buy" rating to the company. Additionally, Canaccord Genuity Group raised their price objective from $12.00 to $15.00, also giving it a "buy" rating in a report published on November 6th. In another update, JPMorgan Chase & Co. upgraded Bioventus from an "underweight" rating to a "neutral" rating, increasing their target price from $12.00 to $13.00.

Analyzing Bioventus Price Trends

The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99, and a current ratio of 1.41. As for its market capitalization, it stands at approximately $912.99 million, with a P/E ratio of -18.39 and a beta value of 0.79. The fifty-day moving average price for the stock is $12.08, while the two-hundred day moving average is $9.59.

On November 5th, Bioventus released its earnings report, revealing earnings of $0.06 per share (EPS) for the quarter, matching analysts' expectations. The company reported a revenue of $138.96 million, which overshadowed projections of $132.57 million. This performance compares favorably to the same period last year, when it recorded an EPS of $0.05. Analysts predict that Bioventus will post an EPS of 0.41 for the current fiscal year.

Institutional Investment Activity

A number of large institutional investors have recently adjusted their stakes in Bioventus. Franklin Resources Inc. initiated a new investment during the third quarter, acquiring shares worth around $1,011,000. Barclays PLC increased its holdings in Bioventus by 24.2%, and now possesses 50,654 shares valued at $606,000 after purchasing an additional 9,854 shares last quarter. Geode Capital Management LLC raised its stake in the company by 7.5%, now holding 940,496 shares worth $11,241,000 after acquiring 65,374 shares. EP Wealth Advisors LLC also entered a new position valued at about $144,000. Furthermore, Jane Street Group LLC increased its stake by a whopping 288.3%, now owning 40,037 shares after adding 29,726 shares. Currently, institutional investors control 62.94% of Bioventus’ stock.

Company Overview

Bioventus Inc. specializes in the development and commercialization of medical devices that aim to support and enhance the body’s natural healing processes. Their product lineup primarily includes non-surgical pain injection therapies and peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for knee osteoarthritis, along with Stimrouter, which addresses chronic peripheral pain.

Should You Consider Investing in Bioventus?

Investors contemplating whether to invest in Bioventus may want to take into account recent insights from leading analysts. While the stock currently holds a "Moderate Buy" rating, some top analysts have identified other stocks that they believe present better investment opportunities. Thus, careful research and evaluation are crucial before making any investment decisions.

Bioventus, Shares, Investing