Allspring Global Investments Holdings LLC Purchases New Holdings in Bioventus Inc. (NYSE:BVS)

Allspring Global Investments Holdings LLC purchased a new stake in Bioventus Inc. (NYSE:BVS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,960 shares of the company’s stock, valued at approximately $286,000.

Several other institutional investors have also recently added to or reduced their stakes in BVS. LSV Asset Management acquired a new position in Bioventus in the 1st quarter valued at about $1,170,000. SG Americas Securities LLC purchased a new stake in Bioventus in the 1st quarter valued at approximately $66,000. Acadian Asset Management LLC purchased a new stake in Bioventus in the 1st quarter valued at approximately $28,000. Hillsdale Investment Management Inc. boosted its holdings in Bioventus by 26.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company’s stock valued at $181,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Bioventus in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Bioventus Price Performance

Shares of NYSE:BVS opened at $13.58 on Friday. The business’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $8.17. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -20.58 and a beta of 0.90. 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 12 month low of $3.36 and a 12 month high of $14.00.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $151.22 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.14 EPS. As a group, equities analysts forecast that Bioventus Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Craig Hallum boosted their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Insider Activity at Bioventus

In related news, Director John A. Bartholdson bought 25,500 shares of Bioventus stock in a transaction that occurred 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 purchase, the director now owns 6,939,357 shares in the company, valued at $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John A. Bartholdson bought 25,500 shares of Bioventus stock in a transaction that occurred 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 purchase, the director now owns 6,939,357 shares in the company, valued at $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 80,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the acquisition, the director now directly owns 6,913,857 shares in the company, valued at $59,113,477.35. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 32.90% of the stock is owned by corporate insiders.

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.