Bank of New York Mellon Corp Boosts Stock Position in Bioventus Inc. (NYSE:BVS)

Bank of New York Mellon Corp lifted its stake in Bioventus Inc. (NYSE:BVS - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,055 shares of the company's stock after acquiring an additional 34,036 shares during the period. Bank of New York Mellon Corp owned 0.15% of Bioventus worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BVS. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Bioventus during the third quarter valued at about $3,092,000. State Street Corp increased its stake in Bioventus by 38.8% during the 3rd quarter. State Street Corp now owns 676,501 shares of the company's stock valued at $8,084,000 after purchasing an additional 189,216 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Bioventus by 228.3% in the third quarter. JPMorgan Chase & Co. now owns 253,740 shares of the company's stock worth $3,032,000 after buying an additional 176,442 shares during the last quarter. FMR LLC lifted its stake in shares of Bioventus by 21,256.6% during the third quarter. FMR LLC now owns 166,795 shares of the company's stock worth $1,993,000 after buying an additional 166,014 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Bioventus by 38.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 390,162 shares of the company's stock valued at $4,662,000 after buying an additional 109,359 shares during the last quarter. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

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Bioventus Trading Down 0.3 %

NYSE:BVS traded down $0.03 on Thursday, hitting $9.09. The stock had a trading volume of 208,959 shares, compared to its average volume of 316,301. The company has a fifty day moving average price of $10.11 and a two-hundred day moving average price of $11.00. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The stock has a market cap of $744.87 million, a price-to-earnings ratio of -14.90 and a beta of 0.86.

Insider Activity

In other news, SVP Anthony D'adamio sold 4,380 shares of Bioventus stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the transaction, the senior vice president now owns 118,178 shares in the company, valued at approximately $1,204,233.82. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the transaction, the chief executive officer now directly owns 64,964 shares of the company's stock, valued at approximately $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,161 shares of company stock valued at $436,364. 32.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BVS shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 price target on shares of Bioventus in a research report on Monday, March 17th. JPMorgan Chase & Co. raised shares of Bioventus from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

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.