State Street Corp Has $8.08 Million Stock Holdings in Bioventus Inc. (NYSE:BVS)

State Street Corp grew its holdings in shares of Bioventus Inc. (NYSE:BVS) by 38.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 676,501 shares of the company’s stock after buying an additional 189,216 shares during the quarter. State Street Corp owned 0.84% of Bioventus worth $8,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BVS. Royce & Associates LP bought a new position in Bioventus in the 3rd quarter valued at about $8,337,000. Renaissance Technologies LLC raised 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bioventus by 38.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after purchasing an additional 109,359 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Bioventus during the third quarter valued at approximately $4,515,000. Finally, Marshall Wace LLP grew its holdings in Bioventus by 38.2% during the second quarter. Marshall Wace LLP now owns 332,291 shares of the company’s stock worth $1,911,000 after buying an additional 91,843 shares in the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bioventus

In related news, SVP Katrina J. Church sold 2,535 shares of Bioventus stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now owns 47,264 shares of the company’s stock, valued at approximately $497,689.92. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Leonard Singleton sold 10,733 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the sale, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BVS. Craig Hallum raised their price objective on 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 raised their price target on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Stock Down 3.5 %

Shares of NYSE:BVS opened at $10.62 on Friday. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. The company has a market capitalization of $861.87 million, a PE ratio of -17.41 and a beta of 0.79. The business has a fifty day moving average price of $11.81 and a two-hundred day moving average price of $9.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same quarter in the prior year, the business earned $0.05 earnings per share. Analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current year.

Bioventus 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.