Renaissance Technologies LLC Has $2.89 Million Stake in Bioventus Inc. (NYSE:BVS)

Renaissance Technologies LLC raised its stake in shares of Bioventus Inc. (NYSE:BVS) by 401.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,175 shares of the company’s stock after buying an additional 402,841 shares during the period. Renaissance Technologies LLC owned about 0.64% of Bioventus worth $2,893,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BVS. Quadrature Capital Ltd bought a new position in Bioventus in the 4th quarter worth $85,000. GSG Advisors LLC raised its holdings in Bioventus by 55.8% in the 1st quarter. GSG Advisors LLC now owns 26,511 shares of the company’s stock worth $133,000 after acquiring an additional 9,500 shares during the period. LSV Asset Management bought a new position in Bioventus in the 1st quarter worth $1,170,000. SG Americas Securities LLC bought a new position in Bioventus in the 1st quarter worth $66,000. Finally, Acadian Asset Management LLC bought a new position in Bioventus in the 1st quarter worth $28,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Wall Street Analyst Weigh In

BVS has been the topic of several research analyst reports. Canaccord Genuity Group raised their price target on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum raised 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.

Insider Transactions at Bioventus

In other Bioventus news, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John A. Bartholdson bought 80,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the acquisition, the director now owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Bartholdson bought 25,500 shares of the business’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The disclosure for this purchase can be found here. 32.90% of the stock is owned by company insiders.

Bioventus Price Performance

Shares of Bioventus stock opened at $11.95 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The firm’s 50-day simple moving average is $9.32 and its 200-day simple moving average is $6.94. Bioventus Inc. has a twelve month low of $2.85 and a twelve month high of $12.41. The firm has a market cap of $946.03 million, a P/E ratio of -34.14 and a beta of 0.89.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The firm had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, research analysts expect that Bioventus Inc. will post 0.4 EPS for the current fiscal year.

About Bioventus

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.