Bioventus (NYSE:BVS) Trading Down 5.9% – Here’s Why

Bioventus Inc. (NYSE:BVS)’s share price traded down 5.9% during mid-day trading on Wednesday . The stock traded as low as $9.97 and last traded at $10.16. 258,471 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 418,376 shares. The stock had previously closed at $10.80.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $13.00 in a report on Tuesday, December 17th.

Bioventus Stock Down 6.2 %

The firm’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $11.02. 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 company has a market capitalization of $822.10 million, a price-to-earnings ratio of -16.59 and a beta of 0.86.

Insiders Place Their Bets

In related news, CEO Robert E. Claypoole sold 28,786 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $261,952.60. Following the completion of the sale, the chief executive officer now owns 64,964 shares in the company, valued at approximately $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Leonard Singleton sold 10,733 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the sale, the chief financial officer now directly owns 105,162 shares of the company’s stock, valued at approximately $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,932 shares of company stock worth $512,511. Company insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Bioventus by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock valued at $25,852,000 after purchasing an additional 388,174 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Bioventus by 33.7% during the fourth quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company’s stock valued at $11,758,000 after buying an additional 282,341 shares during the last quarter. Geode Capital Management LLC increased its holdings in Bioventus by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 940,496 shares of the company’s stock worth $11,241,000 after buying an additional 65,374 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Bioventus by 38.7% during the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company’s stock valued at $9,289,000 after buying an additional 246,645 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Bioventus by 20.9% during the fourth quarter. Nuveen Asset Management LLC now owns 782,137 shares of the company’s stock valued at $8,212,000 after buying an additional 135,236 shares during the last quarter. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

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.