Prospector Partners LLC Buys New Position in Bioventus Inc. (NYSE:BVS)

Prospector Partners LLC bought a new stake in shares of Bioventus Inc. (NYSE:BVS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 124,355 shares of the company’s stock, valued at approximately $2,189,000. Prospector Partners LLC owned 0.22% of Bioventus as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Millennium Management LLC bought a new stake in Bioventus during the 1st quarter valued at approximately $33,020,000. Redmile Group LLC bought a new position in shares of Bioventus during the 1st quarter worth approximately $22,920,000. Deerfield Management Company L.P. Series C bought a new position in shares of Bioventus during the 1st quarter worth approximately $14,623,000. Pura Vida Investments LLC bought a new position in shares of Bioventus during the 1st quarter worth approximately $13,402,000. Finally, Nuance Investments LLC acquired a new stake in Bioventus during the 2nd quarter valued at $12,265,000. Hedge funds and other institutional investors own 36.45% of the company’s stock.

Shares of NYSE:BVS traded up $0.44 during midday trading on Wednesday, reaching $14.22. The company had a trading volume of 510 shares, compared to its average volume of 195,915. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average price is $15.30 and its 200 day moving average price is $15.66. The stock has a market cap of $808.39 million and a PE ratio of 1.82. Bioventus Inc. has a 1-year low of $10.74 and a 1-year high of $19.94.

Bioventus (NYSE:BVS) last posted its earnings results on Monday, August 9th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. On average, research analysts expect that Bioventus Inc. will post 1.34 earnings per share for the current fiscal year.

BVS has been the subject of a number of recent analyst reports. Zacks Investment Research raised Bioventus from a “sell” rating to a “hold” rating in a report on Tuesday, August 31st. The Goldman Sachs Group lowered Bioventus from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $19.00 in a report on Thursday, July 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $23.00 target price on shares of Bioventus in a report on Tuesday, May 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Bioventus has a consensus rating of “Buy” and an average price target of $19.00.

In related news, CEO Kenneth Michael Reali purchased 1,800 shares of the business’s stock in a transaction that occurred on Thursday, September 9th. The stock was acquired at an average cost of $14.81 per share, for a total transaction of $26,658.00. Following the completion of the purchase, the chief executive officer now owns 11,175 shares in the company, valued at approximately $165,501.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

About Bioventus

Bioventus Inc a medical device company, focuses on developing and commercializing clinically treatments that engage and enhance the body's natural healing process in the United States and internationally. The company provides osteoarthritic joint pain treatment and joint preservation products, including Durolane, a single injection therapy; GELSYN-3, a three injection therapy; and SUPARTZ FX, a five injection therapy.

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Institutional Ownership by Quarter for Bioventus (NYSE:BVS)

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