Intech Investment Management LLC Increases Stake in Bioventus Inc. (NYSE:BVS)

Intech Investment Management LLC increased its holdings in Bioventus Inc. (NYSE:BVS) by 74.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,365 shares of the company’s stock after acquiring an additional 10,384 shares during the quarter. Intech Investment Management LLC’s holdings in Bioventus were worth $256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in shares of Bioventus in the 4th quarter worth approximately $38,000. Virtus Fund Advisers LLC purchased a new stake in Bioventus during the third quarter worth $42,000. Quest Partners LLC purchased a new stake in Bioventus during the third quarter worth $51,000. Quarry LP bought a new stake in Bioventus during the 3rd quarter valued at $59,000. Finally, Arizona State Retirement System purchased a new position in shares of Bioventus in the 4th quarter valued at $109,000. 62.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bioventus

In related news, SVP Anthony D’adamio sold 4,380 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert E. Claypoole sold 28,786 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the transaction, the chief executive officer now owns 64,964 shares of the company’s stock, valued at $591,172.40. This trade represents a 30.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,161 shares of company stock worth $436,364. 32.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BVS shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective 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 company from $12.00 to $13.00 in a report on Tuesday, December 17th.

Bioventus Stock Down 3.3 %

Bioventus stock opened at $9.12 on Thursday. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38. The business has a fifty day moving average price of $10.11 and a 200-day moving average price of $11.00. 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 stock has a market capitalization of $747.33 million, a price-to-earnings ratio of -14.95 and a beta of 0.86.

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.