Shares of Bioventus Inc. (NYSE:BVS – Get Rating) dropped 7.4% during trading on Thursday . The company traded as low as $7.55 and last traded at $7.66. Approximately 4,531 shares were traded during trading, a decline of 95% from the average daily volume of 82,552 shares. The stock had previously closed at $8.27.
Analyst Ratings Changes
Separately, Morgan Stanley boosted their target price on Bioventus from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, August 12th.
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The company has a current ratio of 1.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $603.34 million, a PE ratio of -22.47 and a beta of 2.11. The firm's 50-day simple moving average is $8.01 and its 200-day simple moving average is $9.95.
Bioventus (NYSE:BVS – Get Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The firm had revenue of $140.33 million during the quarter, compared to analysts' expectations of $140.01 million. Bioventus had a negative net margin of 4.26% and a positive return on equity of 10.35%. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, research analysts predict that Bioventus Inc. will post 0.54 earnings per share for the current year.Institutional Trading of Bioventus
A number of hedge funds have recently added to or reduced their stakes in BVS. Royce & Associates LP raised its holdings in shares of Bioventus by 0.8% in the 2nd quarter. Royce & Associates LP now owns 1,958,785 shares of the company's stock valued at $13,359,000 after purchasing an additional 15,602 shares in the last quarter. Nuance Investments LLC raised its stake in Bioventus by 6.0% in the first quarter. Nuance Investments LLC now owns 1,352,101 shares of the company's stock worth $19,065,000 after buying an additional 77,061 shares in the last quarter. First Light Asset Management LLC lifted its holdings in Bioventus by 49.6% during the second quarter. First Light Asset Management LLC now owns 1,348,460 shares of the company's stock worth $9,196,000 after buying an additional 446,935 shares during the period. Tamarack Advisers LP boosted its position in Bioventus by 82.3% during the 4th quarter. Tamarack Advisers LP now owns 875,000 shares of the company's stock valued at $12,679,000 after acquiring an additional 395,000 shares in the last quarter. Finally, Wasatch Advisors Inc. purchased a new position in shares of Bioventus in the 1st quarter valued at $9,967,000. 44.62% of the stock is owned by hedge funds and other institutional investors.
Bioventus Company Profile
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Bioventus Inc a medical device company, focuses on developing and commercializing clinical 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 joint pain injection therapies, as well as peripheral nerve stimulation products.
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