Bioventus Inc. (NYSE:BVS) Position Cut by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its holdings in shares of Bioventus Inc. (NYSE:BVS) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,386 shares of the company’s stock after selling 1,150 shares during the period. Sheets Smith Wealth Management owned approximately 0.08% of Bioventus worth $645,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BVS. Geode Capital Management LLC increased its holdings in shares of Bioventus by 7.5% during 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 during the period. Royce & Associates LP acquired a new position in Bioventus during the 3rd quarter valued at about $8,337,000. State Street Corp raised its position in shares of Bioventus by 38.8% during the 3rd quarter. State Street Corp now owns 676,501 shares of the company’s stock worth $8,084,000 after buying an additional 189,216 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Bioventus by 401.5% in the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock worth $2,893,000 after acquiring an additional 402,841 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bioventus by 38.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company’s stock valued at $4,662,000 after acquiring an additional 109,359 shares in the last quarter. Institutional investors own 62.94% of the company’s stock.

Wall Street Analysts Forecast Growth

BVS has been the topic of several recent analyst reports. Craig Hallum boosted their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group boosted their price objective on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Insider Buying and Selling

In other Bioventus news, CFO Mark Leonard Singleton sold 10,733 shares of Bioventus stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $113,018.49. Following the transaction, the chief financial officer now directly owns 105,162 shares in the company, valued at approximately $1,107,355.86. The trade was a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katrina J. Church sold 2,535 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now owns 47,264 shares of the company’s stock, valued at $497,689.92. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,054 shares of company stock valued at $401,665. 32.90% of the stock is owned by corporate insiders.

Bioventus Trading Down 1.4 %

Shares of NYSE:BVS opened at $10.09 on Thursday. 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 stock has a market capitalization of $818.85 million, a price-to-earnings ratio of -16.54 and a beta of 0.85. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38. The company has a 50 day moving average price of $10.83 and a 200 day moving average price of $10.33.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $138.96 million during the quarter, compared to analyst estimates 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 period last year, the company posted $0.05 EPS. On average, research analysts anticipate that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

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.