Bioventus Inc. (NYSE:BVS) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Bioventus Inc. (NYSE:BVS) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,228 shares of the company’s stock after acquiring an additional 1,652 shares during the period. Principal Financial Group Inc.’s holdings in Bioventus were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BVS. Virtus Fund Advisers LLC acquired a new stake in Bioventus during the 3rd quarter worth about $42,000. Quest Partners LLC acquired a new stake in Bioventus during the 3rd quarter worth about $51,000. Quarry LP acquired a new stake in Bioventus during the 3rd quarter worth about $59,000. Covestor Ltd acquired a new stake in Bioventus during the 3rd quarter worth about $69,000. Finally, EP Wealth Advisors LLC acquired a new stake in Bioventus during the 3rd quarter worth about $144,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Bioventus Stock Performance

Shares of NYSE BVS opened at $9.20 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average is $10.16 and its two-hundred day moving average is $11.01. The company has a market cap of $746.63 million, a P/E ratio of -15.08 and a beta of 0.86. Bioventus Inc. has a 12 month low of $3.90 and a 12 month high of $14.38.

Insiders Place Their Bets

In other Bioventus news, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the transaction, the senior vice president now owns 47,264 shares of the company’s stock, valued at approximately $497,689.92. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert E. Claypoole sold 28,786 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the sale, the chief executive officer now owns 64,964 shares of the company’s stock, valued at approximately $591,172.40. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,932 shares of company stock valued at $512,511 in the last three months. Company insiders own 32.90% of the company’s stock.

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.