In a report issued on May 2, Kyle Rose from Canaccord Genuity maintained a Buy rating on Bioventus (BVS), with a price target of $23.00. The company’s shares closed last Wednesday at $14.00.
According to TipRanks.com, Rose is a 5-star analyst with an average return of 18.3% and a 58.3% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.
Currently, the analyst consensus on Bioventus is a Strong Buy with an average price target of $19.50, implying a 38.3% upside from current levels. In a report issued on April 19, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.
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Based on Bioventus’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $98.59 million and net profit of $2.78 million. In comparison, last year the company earned revenue of $53.36 million and had a GAAP net loss of $21.02 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BVS in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Bioventus Inc is a medical technology company incorporated in Delaware on December 22, 2015. The Company is engaged in developing and commercializing orthobiologic products for the treatment of patients suffering from a broad array of musculoskeletal conditions. Its products address the growing need for clinically effective, cost efficient and minimally invasive solutions that enhance the body’s natural healing processes. The Company operates through four segments including Active Healing Therapies-U.S., Active Healing Therapies-International, Surgical and BMP. The Company’s Active Healing Therapies segments offer two types of non-surgical products including non-invasive Exogen system for long bone stimulation for fracture healing and hyaluronic acid, or HA, viscosupplementation therapies for osteoarthritis pain relief.
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