Bioventus Inc. (NYSE:BVS) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Bioventus Inc. (NYSE:BVS) by 5,367.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,437 shares of the company’s stock after acquiring an additional 51,478 shares during the period. Rhumbline Advisers owned about 0.07% of Bioventus worth $302,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Bioventus during the second quarter valued at about $647,000. LSV Asset Management bought a new position in shares of Bioventus during the first quarter worth about $1,170,000. Lazard Asset Management LLC bought a new position in shares of Bioventus during the first quarter worth about $40,000. Quadrature Capital Ltd bought a new position in shares of Bioventus during the fourth quarter worth about $85,000. Finally, GSG Advisors LLC lifted its position in shares of Bioventus by 55.8% during the first quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock worth $133,000 after purchasing an additional 9,500 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BVS. Craig Hallum increased their price target on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th.

Bioventus Stock Performance

Shares of NYSE BVS opened at $11.64 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The firm’s 50-day moving average price is $9.23 and its two-hundred day moving average price is $6.87. Bioventus Inc. has a 52-week low of $2.85 and a 52-week high of $12.41. The stock has a market capitalization of $942.49 million, a P/E ratio of -33.26 and a beta of 0.89.

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

Insiders Place Their Bets

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

About Bioventus

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.