Bioventus (NASDAQ:BVS) Shares Gap Up Following Analyst Upgrade

Bioventus Inc. (NASDAQ:BVS) shares gapped up before the market opened on Thursday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The stock had previously closed at $8.47, but opened at $9.00. Bioventus shares last traded at $9.27, with a volume of 295,205 shares.

Several other equities research analysts have also commented on the company. Barrington Research raised Bioventus to a “strong-buy” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bioventus in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Bioventus has an average rating of “Buy”.

Bioventus Trading Down 7.6%

The company has a market cap of $696.01 million, a price-to-earnings ratio of 25.48 and a beta of 0.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.74 and a quick ratio of 1.14. The business’s 50-day simple moving average is $8.12 and its 200-day simple moving average is $7.49.

Bioventus (NASDAQ:BVS) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Bioventus had a net margin of 4.00% and a return on equity of 29.99%. The business had revenue of $157.90 million for the quarter.

About Bioventus

Bioventus, headquartered in Durham, North Carolina, is a global medical device company specializing in orthobiologic solutions aimed at accelerating healing and improving patient outcomes in musculoskeletal conditions. The company develops and commercializes a portfolio of non‐surgical therapies designed to address bone healing, osteoarthritis pain management and soft tissue repair. Its flagship EXOGEN® Ultrasound Bone Healing System utilizes low‐intensity pulsed ultrasound technology to stimulate bone growth and has been widely used in the management of delayed fractures and nonunions.