Bioventus (NYSE:BVS) Announces Quarterly Earnings Results

Bioventus (NYSE:BVSGet Rating) posted its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01), MarketWatch Earnings reports. Bioventus had a return on equity of 21.93% and a net margin of 2.67%. During the same period last year, the business posted ($0.02) EPS.

Shares of BVS stock traded up $0.55 during trading on Thursday, reaching $8.04. 16,736 shares of the company’s stock were exchanged, compared to its average volume of 194,625. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $614.17 million, a PE ratio of -50.00 and a beta of 1.43. Bioventus has a twelve month low of $7.39 and a twelve month high of $19.94. The firm’s fifty day moving average price is $12.66 and its 200-day moving average price is $13.37.

In other Bioventus news, insider John Nosenzo sold 65,963 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $11.12, for a total value of $733,508.56. Following the transaction, the insider now directly owns 83,932 shares of the company’s stock, valued at approximately $933,323.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Anthony D’adamio sold 16,016 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $11.19, for a total value of $179,219.04. Following the completion of the transaction, the senior vice president now directly owns 148,309 shares in the company, valued at $1,659,577.71. The disclosure for this sale can be found here. Insiders have sold a total of 83,807 shares of company stock worth $934,645 over the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in Bioventus by 71.6% in the 4th quarter. California State Teachers Retirement System now owns 14,892 shares of the company’s stock valued at $216,000 after buying an additional 6,216 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Bioventus by 15.5% during the 1st quarter. HighTower Advisors LLC now owns 14,965 shares of the company’s stock valued at $211,000 after acquiring an additional 2,007 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Bioventus during the 4th quarter valued at $200,000. Squarepoint Ops LLC bought a new stake in shares of Bioventus during the 4th quarter valued at $192,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Bioventus during the 4th quarter valued at $191,000. 86.85% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Bioventus from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 21st. Craig Hallum assumed coverage on Bioventus in a research report on Tuesday, March 15th. They set a “buy” rating and a $30.00 price target on the stock. Morgan Stanley lowered their price target on Bioventus from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, March 11th. Finally, Zacks Investment Research lowered Bioventus from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $21.67.

Bioventus Company Profile (Get Rating)

Bioventus Inc a medical device company, focuses on developing and commercializing clinically treatments that engage and enhance the body's natural healing process in the United States and internationally. The company provides osteoarthritic joint pain treatment and joint preservation products, including Durolane, a single injection therapy; GELSYN-3, a three injection therapy; and SUPARTZ FX, a five injection therapy.

Further Reading

Earnings History for Bioventus (NYSE:BVS)

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