Bioventus Inc. (NYSE:BVS) Shares Sold by Nantahala Capital Management LLC

Nantahala Capital Management LLC reduced its stake in Bioventus Inc. (NYSE:BVS) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,338,314 shares of the company’s stock after selling 467,698 shares during the quarter. Bioventus makes up approximately 1.8% of Nantahala Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Nantahala Capital Management LLC owned about 6.74% of Bioventus worth $30,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers grew its position in Bioventus by 5,367.9% in the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after acquiring an additional 51,478 shares during the period. Bank of New York Mellon Corp acquired a new position in Bioventus in the second quarter valued at about $647,000. LSV Asset Management purchased a new position in Bioventus during the first quarter worth about $1,170,000. Lazard Asset Management LLC acquired a new position in shares of Bioventus in the 1st quarter worth approximately $40,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Bioventus during the 4th quarter worth approximately $85,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John A. Bartholdson purchased 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the purchase, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John A. Bartholdson purchased 80,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the purchase, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Bartholdson acquired 25,500 shares of Bioventus stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.55 per share, with a total value of $218,025.00. Following the transaction, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

Analysts Set New Price Targets

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

Bioventus Stock Up 2.7 %

Shares of NYSE:BVS opened at $11.95 on Tuesday. Bioventus Inc. has a fifty-two week low of $2.85 and a fifty-two week high of $12.41. The firm’s 50 day moving average price is $9.32 and its 200 day moving average price is $6.94. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The stock has a market cap of $946.03 million, a price-to-earnings ratio of -34.14 and a beta of 0.89.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $151.22 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $0.14 EPS. As a group, equities research analysts predict that Bioventus Inc. will post 0.4 earnings per share for the current fiscal 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.