Bioventus Inc. (NYSE:BVS) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Bioventus Inc. (NYSE:BVS) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 940,496 shares of the company’s stock after buying an additional 65,374 shares during the quarter. Geode Capital Management LLC owned 1.16% of Bioventus worth $11,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Bioventus by 24.2% during the third quarter. Barclays PLC now owns 50,654 shares of the company’s stock worth $606,000 after acquiring an additional 9,854 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Bioventus in the 3rd quarter worth approximately $144,000. Jane Street Group LLC boosted its stake in Bioventus by 288.3% in the 3rd quarter. Jane Street Group LLC now owns 40,037 shares of the company’s stock worth $478,000 after purchasing an additional 29,726 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in Bioventus during the 3rd quarter worth approximately $42,000. Finally, Virtus Investment Advisers Inc. acquired a new position in Bioventus during the 3rd quarter valued at approximately $217,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bioventus Stock Down 0.4 %

BVS stock opened at $10.50 on Wednesday. The company has a market capitalization of $852.13 million, a P/E ratio of -17.21 and a beta of 0.79. Bioventus Inc. has a 12 month low of $3.90 and a 12 month high of $14.38. The firm’s fifty day simple moving average is $11.72 and its 200-day simple moving average is $9.90. 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 EPS for the quarter, meeting the consensus estimate 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 company earned $0.05 earnings per share. As a group, equities research analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

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

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.