Bioventus Inc. (NYSE:BVS) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Bioventus Inc. (NYSE:BVS) by 37.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 125,055 shares of the company’s stock after purchasing an additional 34,036 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bioventus were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Bioventus by 38.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock worth $4,662,000 after purchasing an additional 109,359 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Bioventus during the 3rd quarter valued at $788,000. JPMorgan Chase & Co. lifted its position in shares of Bioventus by 228.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,740 shares of the company’s stock valued at $3,032,000 after acquiring an additional 176,442 shares during the last quarter. State Street Corp lifted its holdings in shares of Bioventus by 38.8% in the third quarter. State Street Corp now owns 676,501 shares of the company’s stock valued at $8,084,000 after purchasing an additional 189,216 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Bioventus by 7.5% in the third quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock valued at $11,241,000 after purchasing an additional 65,374 shares in the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Bioventus Stock Performance

NYSE BVS opened at $9.65 on Monday. 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 has a market capitalization of $783.15 million, a price-to-earnings ratio of -15.82 and a beta of 0.86. The company’s fifty day moving average is $10.10 and its two-hundred day moving average is $11.01. Bioventus Inc. has a 52-week low of $3.90 and a 52-week high of $14.38.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of Bioventus in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded shares of Bioventus from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Insider Transactions at Bioventus

In related news, CFO Mark Leonard Singleton sold 6,498 shares of Bioventus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total transaction of $66,214.62. Following the completion of the transaction, the chief financial officer now directly owns 118,817 shares of the company’s stock, valued at $1,210,745.23. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Anthony D’adamio sold 4,380 shares of Bioventus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total transaction of $44,632.20. Following the transaction, the senior vice president now directly owns 118,178 shares of the company’s stock, valued at $1,204,233.82. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,682 shares of company stock valued at $382,725. Company insiders own 32.90% of the company’s stock.

Bioventus 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.