JPMorgan Chase & Co. Raises Position in Bioventus Inc. (NYSE:BVS)

JPMorgan Chase & Co. lifted its holdings in shares of Bioventus Inc. (NYSE:BVS) by 228.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 253,740 shares of the company’s stock after purchasing an additional 176,442 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Bioventus worth $3,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BVS. Virtus Fund Advisers LLC acquired a new stake in Bioventus in the 3rd quarter worth about $42,000. Quest Partners LLC acquired a new stake in shares of Bioventus in the third quarter worth approximately $51,000. Quarry LP purchased a new stake in Bioventus in the third quarter valued at approximately $59,000. Covestor Ltd acquired a new position in Bioventus during the third quarter worth approximately $69,000. Finally, CWM LLC acquired a new position in shares of Bioventus in the 3rd quarter valued at $89,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bioventus

In other Bioventus news, CFO Mark Leonard Singleton sold 10,733 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 $113,018.49. Following the completion of the sale, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. The trade was a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katrina J. Church sold 2,535 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.53, for a total transaction of $26,693.55. Following the completion of the transaction, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,054 shares of company stock valued at $401,665. Insiders own 32.90% of the company’s stock.

Bioventus Price Performance

BVS stock opened at $10.04 on Monday. The firm has a market cap of $814.75 million, a P/E ratio of -16.46 and a beta of 0.85. 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 stock has a 50-day simple moving average of $10.93 and a 200-day simple moving average of $10.24.

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The business had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, equities analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current fiscal 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.