Bioventus Stock Upgrade by JPMorgan Chase & Co.

Bioventus (NYSE:BVS) recently received a positive assessment from analysts at JPMorgan Chase & Co., who upgraded the company's rating from "underweight" to "neutral". This change was communicated in a report released to investors on Tuesday. Additionally, JPMorgan raised their price target for Bioventus from $12.00 to $13.00, suggesting a potential upside of approximately 16.59% from its current trading price.

Other financial analysts have also provided insights on Bioventus. For instance, Craig Hallum increased their price target from $12.00 to $17.00 and slapped a "buy" rating on the stock in a report on September 27. Similarly, Canaccord Genuity Group raised their price objective on Bioventus shares from $12.00 to $15.00, labeling it as a "buy" in their November 6 report.

Recent Performance of Bioventus Stock

On Tuesday, Bioventus stock started at $11.15. The company has reported a current ratio of 1.41 and a quick ratio of 0.99. Additionally, its debt-to-equity ratio stands at 1.85. Over the past year, Bioventus reached a low of $3.90 and a high of $14.38. Its fifty-day moving average is noted at $12.08, while the two-hundred day moving average is $9.59. Overall, the company holds a market capitalization of $904.88 million, with a P/E ratio of -18.28 and a beta of 0.79.

Bioventus also announced its latest earnings results on November 5. The company reported earnings per share (EPS) of $0.06 for the quarter, aligning with the consensus estimate. The revenue for the quarter hit $138.96 million, surpassing the analyst estimates of $132.57 million. Additionally, Bioventus achieved a positive return on equity of 15.61%, yet reported a negative net margin of 7.11%. Year-over-year, the company saw an increase from the EPS of $0.05 recorded during the same quarter last year. Looking ahead, analysts predict that Bioventus will deliver EPS of $0.41 for the current fiscal year.

Institutional Investors' Activities

Several institutional investors have recently made adjustments to their positions in Bioventus. For instance, Virtus Fund Advisers LLC made a new stake acquisition worth $42,000 during the third quarter. Quest Partners LLC also entered the scene with a new stake approximating $51,000. Similarly, Quarry LP acquired a new position valued roughly at $59,000, while HB Wealth Management LLC entered with an investment around $60,000. Lastly, Covestor Ltd bought a new stake valued at about $69,000 in the third quarter. Institutional investors collectively hold approximately 62.94% of Bioventus's stock.

About Bioventus

Bioventus Inc. is a medical device company aimed at developing and commercializing treatments that enhance and engage the body's natural healing processes both in the United States and globally. The product range includes various pain treatments such as non-surgical pain injection therapies and peripheral nerve stimulation products. Their offerings feature treatments for knee osteoarthritis, including products like Durolane, GELSYN-3, SUPARTZ, and Stimrouter, which targets chronic peripheral pain.

Conclusion

Given the recent upgrade by JPMorgan Chase & Co. and the optimistic outlook from various analysts, there could be significant interest in Bioventus's stock in the near future. Investors should stay informed about ongoing developments as the company continues to advance its product offerings in the medical device sector.

Bioventus, Upgrade, Stock