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

Bioventus Inc. (NYSE:BVS) experienced a notable increase in share price prior to the start of trading on Tuesday. The stock previously closed at $11.15 but opened higher at $11.40. As of the latest trading information, Bioventus shares were at $11.03, with a trading volume of 42,701 shares.

Wall Street Analyst Weigh In

Bioventus has been a focal point for analysts recently, receiving multiple updates on its stock outlook. Craig Hallum, in a report dated September 27, raised their target price from $12.00 to $17.00, recommending a "buy" rating for the stock. Similarly, Canaccord Genuity Group increased its price target for Bioventus shares from $12.00 to $15.00, also issuing a "buy" rating in a note on November 6. Furthermore, JPMorgan Chase & Co. adjusted its rating on Bioventus from "underweight" to "neutral" and increased its price target from $12.00 to $13.00, as noted in their report on Tuesday.

Bioventus Price Performance

The financial health of Bioventus shows a debt-to-equity ratio of 1.85, a quick ratio of 0.99, and a current ratio of 1.41. The company's market capitalization stands at $912.99 million, with a price-to-earnings (P/E) ratio of -18.39, and a beta of 0.79. In terms of moving averages, the fifty-day average price is $12.08 compared to a two-hundred-day average price of $9.59.

Bioventus last released its earnings results on November 5, reporting $0.06 earnings per share (EPS) for the quarter, aligning with analysts' consensus estimates. The company recorded a negative net margin of 7.11%, while showing a positive return on equity of 15.61%. The quarterly revenue reached $138.96 million, surpassing the anticipated $132.57 million. The firm's EPS from the same period last year was $0.05. Analysts project that Bioventus Inc. will report an EPS of $0.41 for the current fiscal year.

Institutional Trading of Bioventus

Several large institutional investors have recently adjusted their positions in Bioventus. Franklin Resources Inc. acquired a new stake worth approximately $1,011,000 during the third quarter. Barclays PLC increased its holdings in Bioventus by 24.2%, owning 50,654 shares valued at $606,000 following an additional purchase of 9,854 shares. Geode Capital Management LLC raised its stake by 7.5%, bringing its total to 940,496 shares worth $11,241,000 after purchasing an additional 65,374 shares. Additionally, EP Wealth Advisors LLC established a new position valued at around $144,000, and Jane Street Group LLC significantly increased its stake by 288.3%, acquiring 40,037 shares worth $478,000. Currently, institutional investors hold 62.94% of Bioventus' stock.

About Bioventus

Bioventus Inc. specializes in medical devices aimed at developing and commercializing treatments that promote the body's natural healing processes. It operates both in the United States and internationally, offering a range of products including non-surgical pain injection therapies, peripheral nerve stimulation technologies, and treatments for knee osteoarthritis such as Durolane, GELSYN-3, SUPARTZ, along with Stimrouter for chronic peripheral pain.

Should You Invest Now?

Investors considering Bioventus should be aware of various recommendations currently available. Although analysts have generally rated Bioventus as a "Moderate Buy," there may be other stocks that analysts feel are more attractive at this time. This highlights the importance of extensive research and analysis prior to making investment decisions.

Bioventus, Stocks, Analysis