Canaccord Genuity Keeps Their Buy Rating on Bioventus (BVS)
Canaccord Genuity analyst Kyle Rose maintained a Buy rating on Bioventus (BVS) yesterday and set a price target of $23.00. The company’s shares closed last Monday at $16.75.
According to TipRanks.com, Rose is a 5-star analyst with an average return of 17.8% and a 57.7% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bioventus with a $19.50 average 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.
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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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