Charles Schwab Investment Management Inc. Buys 109,359 Shares of Bioventus Inc. (NYSE:BVS)

Charles Schwab Investment Management Inc. increased its stake in shares of Bioventus Inc. (NYSE:BVS) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,162 shares of the company’s stock after buying an additional 109,359 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bioventus were worth $4,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new position in shares of Bioventus during the 3rd quarter worth approximately $51,000. Covestor Ltd bought a new position in Bioventus in the 3rd quarter valued at $69,000. CWM LLC bought a new position in Bioventus in the 3rd quarter valued at $89,000. HB Wealth Management LLC bought a new position in Bioventus in the 2nd quarter valued at $60,000. Finally, Mackenzie Financial Corp bought a new position in Bioventus in the 2nd quarter valued at $77,000. Institutional investors own 62.94% of the company’s stock.

Bioventus Price Performance

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

Bioventus (NYSE:BVS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $138.96 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.05 earnings per share. Equities research analysts expect that Bioventus Inc. will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

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