Principal Financial Group Inc. Invests $210,000 in Bioventus Inc. (NYSE:BVS)

Principal Financial Group Inc. acquired a new stake in Bioventus Inc. (NYSE:BVS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,576 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Olympiad Research LP purchased a new position in Bioventus in the third quarter valued at about $251,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Bioventus in the 3rd quarter worth approximately $286,000. CWM LLC purchased a new position in Bioventus in the 3rd quarter valued at approximately $89,000. Mackenzie Financial Corp acquired a new position in Bioventus during the second quarter worth $77,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Bioventus during the second quarter worth $87,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BVS shares. Craig Hallum raised their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Canaccord Genuity Group raised their target price on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Bioventus Stock Performance

NYSE BVS opened at $11.50 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. Bioventus Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $14.38. The business has a fifty day moving average of $12.06 and a 200-day moving average of $9.02. The stock has a market cap of $933.23 million, a price-to-earnings ratio of -18.85 and a beta of 0.88.

Bioventus (NYSE:BVS) last released its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $138.96 million for 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 period in the prior year, the firm earned $0.05 EPS. As a group, analysts predict that Bioventus Inc. will post 0.41 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.