Bank of New York Mellon Corp Takes Position in Bioventus Inc. (NYSE:BVS)

Bank of New York Mellon Corp bought a new stake in Bioventus Inc. (NYSE:BVS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 112,477 shares of the company’s stock, valued at approximately $647,000. Bank of New York Mellon Corp owned about 0.14% of Bioventus at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BVS. Acadian Asset Management LLC purchased a new stake in shares of Bioventus during the first quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new stake in Bioventus in the 1st quarter worth $40,000. SG Americas Securities LLC purchased a new position in shares of Bioventus in the first quarter valued at about $66,000. Burns Matteson Capital Management LLC bought a new position in shares of Bioventus during the second quarter valued at about $67,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Bioventus during the fourth quarter worth about $85,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on BVS. Canaccord Genuity Group upped their price target on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum raised their price target on Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of the stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction dated Monday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $218,025.00. Following the transaction, the director now directly owns 6,939,357 shares in the company, valued at $59,331,502.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Bartholdson acquired 80,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The disclosure for this purchase can be found here. Corporate insiders own 32.90% of the company’s stock.

Bioventus Price Performance

BVS stock opened at $11.36 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. Bioventus Inc. has a 1 year low of $2.82 and a 1 year high of $12.03. The firm has a 50-day moving average of $8.79 and a 200 day moving average of $6.68. The company has a market cap of $899.33 million, a P/E ratio of -32.46 and a beta of 0.89.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The company had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, sell-side analysts forecast that Bioventus Inc. will post 0.4 EPS for the current year.

Bioventus Company Profile

Bioventus Inc, a medical device company, focuses on developing and commercializing treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pain treatments, which comprise non-surgical pain injection therapies, as well as peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis and Stimrouter to treat chronic peripheral pain.