Fmr LLC Grows Position in Bioventus Inc. (NYSE:BVS)

Fmr LLC increased its position in shares of Bioventus Inc. (NYSE:BVS) by 21,256.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,795 shares of the company’s stock after buying an additional 166,014 shares during the quarter. Fmr LLC’s holdings in Bioventus were worth $1,993,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Bioventus by 38.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after purchasing an additional 109,359 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Bioventus in the 3rd quarter valued at approximately $167,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Bioventus in the 3rd quarter valued at approximately $3,092,000. Segall Bryant & Hamill LLC purchased a new position in shares of Bioventus in the 3rd quarter valued at approximately $4,515,000. Finally, Quest Partners LLC purchased a new position in shares of Bioventus in the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BVS shares. Canaccord Genuity Group raised their price target on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Craig Hallum raised 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.

Bioventus Stock Performance

Shares of BVS stock opened at $11.03 on Monday. The stock has a fifty day moving average price of $12.08 and a 200 day moving average price of $9.56. The stock has a market cap of $895.14 million, a PE ratio of -18.08 and a beta of 0.79. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. 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 (NYSE:BVS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $138.96 million during the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same period in the previous year, the firm posted $0.05 earnings per share. Sell-side analysts forecast 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.