Connor Clark & Lunn Investment Management Ltd. Buys Shares of 258,756 Bioventus Inc. (NYSE:BVS)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bioventus Inc. (NYSE:BVS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 258,756 shares of the company's stock, valued at approximately $3,092,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Bioventus at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BVS. Acadian Asset Management LLC purchased a new stake in Bioventus during the 1st quarter valued at about $28,000. Lazard Asset Management LLC acquired a new stake in shares of Bioventus in the first quarter valued at $40,000. Quest Partners LLC acquired a new stake in Bioventus in the third quarter valued at approximately $51,000. HB Wealth Management LLC acquired a new stake in Bioventus in the second quarter valued at approximately $60,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Bioventus in the 1st quarter valued at approximately $66,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BVS has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price target on Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Craig Hallum increased their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, September 27th.

Bioventus Stock Performance

Shares of NYSE BVS traded down $0.21 during midday trading on Monday, reaching $11.50. 1,004,570 shares of the company were exchanged, compared to its average volume of 401,474. The stock has a fifty day simple moving average of $12.06 and a 200 day simple moving average of $9.02. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The stock has a market cap of $933.23 million, a P/E ratio of -18.85 and a beta of 0.88. Bioventus Inc. has a 1 year low of $3.80 and a 1 year high of $14.38.

Bioventus (NYSE:BVS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, research analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.

Bioventus Company 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.