Canaccord Genuity analyst Caitlin Cronin maintained a Buy rating on Bioventus yesterday and set a price target of $15.00.
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Caitlin Cronin’s rating is based on several strategic initiatives and growth prospects that Bioventus has put in place. The company is focusing on driving both short and long-term growth by improving its growth rate and leveraging its core, expansion, and emerging business segments. The core businesses, which include HA, BGS, and fracture care, are stable and continue to grow, while the expansion businesses like Ultrasonics and OUS are expected to see double-digit growth with new leadership in place.
Additionally, Bioventus is making strides in its emerging businesses, PRS and PNS, which are anticipated to significantly contribute to growth in the coming years. The company is also enhancing its margin improvement and cash flow expansion through leverage and working capital improvements. Furthermore, Bioventus’s valuation is attractive as it trades at half the multiple of its small-cap MedTech peers, reinforcing the Buy rating. These factors combined make Bioventus a compelling investment opportunity according to Caitlin Cronin.
In another report released on August 11, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $14.00 price target.
BVS’s price has also changed moderately for the past six months – from $10.270 to $7.310, which is a -28.82% drop .