15,136 Shares in Bioventus Inc. (NYSE:BVS) Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of Bioventus Inc. (NYSE:BVS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,136 shares of the company’s stock, valued at approximately $87,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in shares of Bioventus by 401.5% in the second quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock worth $2,893,000 after purchasing an additional 402,841 shares during the period. LSV Asset Management bought a new position in Bioventus in the 1st quarter worth approximately $1,170,000. Panagora Asset Management Inc. acquired a new position in shares of Bioventus during the second quarter worth approximately $787,000. Bank of Montreal Can bought a new stake in shares of Bioventus in the second quarter valued at approximately $774,000. Finally, American Century Companies Inc. grew its stake in shares of Bioventus by 289.5% in the second quarter. American Century Companies Inc. now owns 169,161 shares of the company’s stock worth $973,000 after acquiring an additional 125,736 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Canaccord Genuity Group upped their price objective on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

Bioventus Price Performance

Shares of NYSE:BVS opened at $12.95 on Monday. The firm has a market capitalization of $1.03 billion, a PE ratio of -37.00 and a beta of 0.90. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. Bioventus Inc. has a 1-year low of $2.97 and a 1-year high of $13.07. The business’s 50 day moving average is $10.64 and its 200-day moving average is $7.61.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same quarter in the previous year, the firm posted $0.14 EPS. Sell-side analysts predict that Bioventus Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John A. Bartholdson acquired 25,500 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost 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 of the company’s stock, valued at $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John A. Bartholdson bought 80,000 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $8.55 per share, with a total value of $684,000.00. Following the acquisition, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Bartholdson purchased 25,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost 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 in the company, valued at $59,331,502.35. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

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.