Bioventus (NASDAQ:BVS) Posts Earnings Results, Meets Expectations

Bioventus (NASDAQ:BVS) released its quarterly earnings data on Monday. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17, FiscalAI reports. Bioventus had a return on equity of 28.08% and a net margin of 9.36%. The company had revenue of $142.44 million during the quarter.

Bioventus Stock Performance

NASDAQ BVS traded down $0.17 on Monday, reaching $13.15. The stock had a trading volume of 634,417 shares, compared to its average volume of 521,221. Bioventus has a 1-year low of $6.47 and a 1-year high of $15.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.17. The company has a market cap of $1.11 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66. The firm has a fifty day moving average of $13.70 and a two-hundred day moving average of $10.88.

Hedge Funds Weigh In On Bioventus

A number of hedge funds have recently bought and sold shares of BVS. Covestor Ltd raised its position in shares of Bioventus by 25.6% in the third quarter. Covestor Ltd now owns 5,808 shares of the company’s stock valued at $79,000 after buying an additional 1,182 shares in the last quarter. Signaturefd LLC increased its stake in Bioventus by 2,809.1% during the 3rd quarter. Signaturefd LLC now owns 1,920 shares of the company’s stock worth $26,000 after acquiring an additional 1,854 shares during the period. Quantum Financial Partners LLC increased its stake in Bioventus by 11.8% during the 3rd quarter. Quantum Financial Partners LLC now owns 14,200 shares of the company’s stock worth $194,000 after acquiring an additional 1,500 shares during the period. USA Financial Formulas bought a new position in Bioventus during the 3rd quarter worth $42,000. Finally, State of Alaska Department of Revenue raised its holdings in Bioventus by 446.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 18,953 shares of the company’s stock valued at $258,000 after acquiring an additional 15,484 shares in the last quarter. 62.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Bioventus in a research report on Thursday, August 6th. Barrington Research set a $18.00 price target on Bioventus in a report on Thursday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Bioventus in a research report on Monday, August 17th. Canaccord Genuity Group increased their price objective on shares of Bioventus from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Bioventus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.80.

About Bioventus

Bioventus Inc is a medical device and biologics company focused on developing and commercializing products that support bone healing, joint health and surgical recovery. Its portfolio is designed to help healthcare professionals treat musculoskeletal conditions and improve patient outcomes through noninvasive therapies, injectable products and biologic solutions.

The company’s offerings include bone stimulation systems such as EXOGEN, which is used to support fracture healing, as well as injectable osteoarthritis treatments including DUROLANE and GELSYN-3.