Cubist Systematic Strategies LLC Cuts Stake in Bioventus Inc. (NYSE:BVS)

Cubist Systematic Strategies LLC decreased its stake in Bioventus Inc. (NYSE:BVS) by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,163 shares of the company’s stock after selling 9,659 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.05% of Bioventus worth $231,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in Bioventus during the 1st quarter worth $28,000. Lazard Asset Management LLC acquired a new stake in shares of Bioventus during the first quarter valued at about $40,000. HB Wealth Management LLC purchased a new stake in shares of Bioventus during the second quarter worth about $60,000. SG Americas Securities LLC acquired a new position in shares of Bioventus in the first quarter worth about $66,000. Finally, Burns Matteson Capital Management LLC purchased a new position in Bioventus in the second quarter valued at about $67,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Insider Activity

In other Bioventus news, Director John A. Bartholdson acquired 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 completion of the purchase, the director now directly owns 6,939,357 shares in the company, valued at $59,331,502.35. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director John A. Bartholdson purchased 80,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Bartholdson acquired 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

Bioventus Trading Up 0.7 %

NYSE:BVS opened at $11.75 on Friday. The company has a market cap of $930.20 million, a PE ratio of -33.57 and a beta of 0.90. The business’s 50 day moving average is $9.66 and its two-hundred day moving average is $7.10. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. Bioventus Inc. has a 52 week low of $2.85 and a 52 week high of $12.41.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The business had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same period in the prior year, the company posted $0.14 EPS. On average, analysts predict that Bioventus Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

BVS has been the topic of several analyst reports. Craig Hallum lifted their price objective on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group increased their price objective on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th.

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.