Intech Investment Management LLC Invests $167,000 in Bioventus Inc. (NYSE:BVS)

Intech Investment Management LLC acquired a new stake in Bioventus Inc. (NYSE:BVS) in the third quarter, HoldingsChannel.com reports. The firm acquired 13,981 shares of the company’s stock, valued at approximately $167,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in Bioventus in the 3rd quarter valued at about $51,000. Covestor Ltd acquired a new stake in shares of Bioventus in the third quarter worth approximately $69,000. CWM LLC purchased a new stake in Bioventus in the third quarter valued at approximately $89,000. HB Wealth Management LLC acquired a new position in Bioventus during the second quarter worth approximately $60,000. Finally, Mackenzie Financial Corp purchased a new position in Bioventus during the second quarter worth approximately $77,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bioventus Stock Up 0.3 %

BVS opened at $11.68 on Friday. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. The firm has a 50 day moving average price of $12.14 and a 200 day moving average price of $9.31. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The company has a market cap of $947.89 million, a PE ratio of -19.18 and a beta of 0.79.

Bioventus (NYSE:BVS) last released 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. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The company had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. Sell-side analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current year.

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.