Connor Clark & Lunn Investment Management Ltd. Takes Position in Bioventus Inc. (NYSE:BVS)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bioventus Inc. (NYSE:BVS) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 258,756 shares of the company’s stock, valued at approximately $3,092,000.

Several other institutional investors also recently bought and sold shares of BVS. Royce & Associates LP purchased a new position in shares of Bioventus in the third quarter worth $8,337,000. Renaissance Technologies LLC grew its holdings in Bioventus by 401.5% in the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock worth $2,893,000 after acquiring an additional 402,841 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Bioventus in the third quarter valued at about $4,515,000. Los Angeles Capital Management LLC purchased a new position in shares of Bioventus in the third quarter valued at about $1,714,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Bioventus during the second quarter valued at about $787,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bioventus Trading Up 1.7 %

NYSE:BVS opened at $11.71 on Monday. Bioventus Inc. has a 12 month low of $3.77 and a 12 month high of $14.38. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average price of $12.05 and a 200-day moving average price of $8.98. The stock has a market cap of $950.33 million, a price-to-earnings ratio of -19.20 and a beta of 0.88.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate 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 period last year, the business posted $0.05 earnings per share. Equities analysts predict that Bioventus Inc. will post 0.41 EPS for the current 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.