Bioventus (NASDAQ:BVS) Share Price Breaks Below 200 Day Moving Average - What's Next?

Key Points

• Bioventus shares fell below their 200-day moving average of $10.95, touching $10.41 and last trading at $10.68.
• Analysts remain broadly positive: five rate the stock Buy and one Hold, for a “Moderate Buy” consensus and an average price target of $16.60. Recent targets include $18 from Craig Hallum and Canaccord Genuity.
• The company reported quarterly EPS of $0.17, matching analyst estimates, on revenue of $142.44 million. Analysts expect full-year EPS of $0.78.

Bioventus Inc. (NASDAQ:BVS - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.95 and traded as low as $10.41. Bioventus shares last traded at $10.68, with a volume of 806,750 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on BVS. Barrington Research set a $18.00 price objective on shares of Bioventus in a research note on Thursday, August 6th. Craig Hallum reissued a "buy" rating and issued a $18.00 price objective on shares of Bioventus in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Bioventus from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $15.00 target price on shares of Bioventus in a report on Monday, August 17th. Finally, Canaccord Genuity Group dropped their target price on Bioventus from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.60.

Bioventus Trading Down 6.5%

The firm has a market capitalization of $898.08 million, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.46 and a beta of 0.66. The company's 50-day simple moving average is $13.50 and its 200 day simple moving average is $10.95. The company has a quick ratio of 1.17, a current ratio of 1.68 and a debt-to-equity ratio of 0.72.

Bioventus (NASDAQ:BVS - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. Bioventus had a net margin of 9.78% and a return on equity of 26.31%. The firm had revenue of $142.44 million for the quarter. As a group, sell-side analysts expect that Bioventus Inc. will post 0.78 EPS for the current year.

Institutional Trading of Bioventus

A number of institutional investors have recently made changes to their positions in the business. Ritholtz Wealth Management purchased a new position in shares of Bioventus in the 3rd quarter valued at approximately $320,000. Allspring Global Investments Holdings LLC boosted its stake in Bioventus by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,874 shares of the company's stock worth $1,170,000 after purchasing an additional 3,367 shares in the last quarter. Covestor Ltd grew its position in Bioventus by 25.6% during the 3rd quarter. Covestor Ltd now owns 5,808 shares of the company's stock worth $79,000 after purchasing an additional 1,182 shares during the last quarter. Signaturefd LLC grew its position 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 purchasing an additional 1,854 shares during the last quarter. Finally, 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 valued at $194,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 62.94% of the company's stock.

Bioventus Company Profile

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.

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