Bioventus Inc. (NYSE:BVS) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its holdings in shares of Bioventus Inc. (NYSE:BVS) by 27.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,512 shares of the company’s stock after selling 11,007 shares during the quarter. Verition Fund Management LLC’s holdings in Bioventus were worth $341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quest Partners LLC acquired a new stake in Bioventus in the third quarter worth about $51,000. HB Wealth Management LLC acquired a new stake in shares of Bioventus in the 2nd quarter worth approximately $60,000. Covestor Ltd acquired a new stake in shares of Bioventus in the 3rd quarter worth approximately $69,000. Mackenzie Financial Corp bought a new position in shares of Bioventus in the second quarter valued at approximately $77,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Bioventus during the second quarter valued at approximately $87,000. Institutional investors own 62.94% of the company’s stock.

Bioventus Stock Performance

Shares of BVS opened at $11.03 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The firm’s 50 day moving average is $12.08 and its 200-day moving average is $9.52. Bioventus Inc. has a 12-month low of $3.90 and a 12-month high of $14.38. The stock has a market capitalization of $895.08 million, a P/E ratio of -18.08 and a beta of 0.79.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The company had revenue of $138.96 million for the quarter, compared to analysts’ expectations of $132.57 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts anticipate that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum upped their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

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.