10 Undervalued Medical Device Stocks to Buy Now

6. Bioventus Inc. (NASDAQ:BVS)

Forward P/E: 9.86

Number of Hedge Fund Holders: 24

Bioventus Inc. (NASDAQ:BVS) is one of the best undervalued medical device stocks to buy now. On July 7, Cantor Fitzgerald analyst Ross Osborn initiated coverage of Bioventus Inc. (NASDAQ:BVS) with an Overweight rating and $12 price target.

The company reported a 4.3% decline in its worldwide revenue for fiscal Q1 2025 to $123.9 million from $129.5 million in the same period last year. The drop reflects the effects of the previous year’s divestiture of the Advanced Rehabilitation Business.

Bioventus Inc. (NASDAQ:BVS) also reported a 5.0% growth in organic revenue in the quarter, attributed to positive organic growth across all three businesses.

Global revenue in Paint Treatments rose 3.9% to $58.9 million, driven by double-digit growth in demand for Durolane. Durolane is a single-injection hyaluronic acid therapy that targets knee osteoarthritis.

Similarly, Surgical Solutions also underwent a 7.0% growth in global revenue in the quarter to $45.2 million, attributed to double-digit growth from Ultrasonics due to strong capital equipment purchases in the US.

Bioventus Inc. (NASDAQ:BVS) is a medical technology company that develops and commercializes proprietary orthobiologic products to treat musculoskeletal conditions. It operates through the following business segments: Active Healing Therapies-U.S, Active Healing Therapies-International, Surgical and BMP.