Franklin Resources Inc. Takes $1.01 Million Position in Bioventus Inc. (NYSE:BVS)

Franklin Resources Inc. purchased a new position in Bioventus Inc. (NYSE:BVS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 80,412 shares of the company’s stock, valued at approximately $1,011,000. Franklin Resources Inc. owned 0.10% of Bioventus at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in Bioventus by 100.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 117,496 shares of the company’s stock valued at $676,000 after acquiring an additional 58,954 shares during the last quarter. Rhumbline Advisers increased its holdings in Bioventus by 5,367.9% during the 2nd quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock valued at $302,000 after acquiring an additional 51,478 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Bioventus during the third quarter worth about $4,515,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Bioventus in the third quarter valued at about $788,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BVS. Craig Hallum raised their price objective on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their price target on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Insider Activity

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

Bioventus Stock Down 3.5 %

Shares of NYSE BVS opened at $10.62 on Friday. The firm has a market cap of $861.87 million, a P/E ratio of -17.41 and a beta of 0.79. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. The firm’s 50 day moving average price is $11.81 and its 200 day moving average price is $9.82.

Bioventus (NYSE:BVS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The business had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. As a group, sell-side analysts anticipate that Bioventus Inc. will post 0.41 earnings per share 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.