Geode Capital Management LLC Raises Stock Position in Bioventus Inc. (NYSE:BVS)

Geode Capital Management LLC boosted its stake in Bioventus Inc. (NYSE:BVS) by 7.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 940,496 shares of the company’s stock after buying an additional 65,374 shares during the quarter. Geode Capital Management LLC’s holdings in Bioventus were worth $11,241,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Bioventus by 24.2% in 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 purchased a new position in Bioventus in the 3rd quarter valued at $144,000. Jane Street Group LLC lifted its holdings in Bioventus by 288.3% in the 3rd quarter. Jane Street Group LLC now owns 40,037 shares of the company’s stock valued at $478,000 after purchasing an additional 29,726 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in Bioventus during the 3rd quarter worth $42,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Bioventus during the third quarter worth $217,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

Bioventus Stock Down 0.4 %

NYSE BVS opened at $10.50 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. Bioventus Inc. has a 52 week low of $3.90 and a 52 week high of $14.38. The business’s fifty day simple moving average is $11.72 and its 200-day simple moving average is $9.90. The firm has a market cap of $852.13 million, a PE ratio of -17.21 and a beta of 0.79.

Bioventus (NYSE:BVS) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share 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 previous year, the business posted $0.05 EPS. As a group, equities analysts anticipate that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other Bioventus news, CFO Mark Leonard Singleton sold 10,733 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the transaction, the chief financial officer now owns 105,162 shares of the company’s stock, valued at $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katrina J. Church sold 2,535 shares of Bioventus stock in a transaction dated 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 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 disclosure for this sale can be found here. 32.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Craig Hallum boosted their price target 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. Canaccord Genuity Group raised their target price on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and upped their price target for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th.

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.