Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 24.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,179 shares of the company's stock after selling 62,577 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of Bioventus worth $2,060,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Virtus Fund Advisers LLC acquired a new position in shares of Bioventus during the third quarter valued at $42,000. Plato Investment Management Ltd acquired a new position in shares of Bioventus during the fourth quarter valued at $38,000. Quest Partners LLC acquired a new position in shares of Bioventus during the third quarter valued at $51,000. Quarry LP acquired a new position in shares of Bioventus during the third quarter valued at $59,000. Finally, Arizona State Retirement System acquired a new position in shares of Bioventus during the fourth quarter valued at $109,000. 62.94% of the stock is owned by institutional investors and hedge funds.
Bioventus Price Performance
NYSE:BVS traded down $0.09 during mid-day trading on Friday, reaching $9.65. 441,024 shares of the stock were exchanged, compared to its average volume of 423,736. The business has a fifty day moving average price of $10.10 and a 200 day moving average price of $10.99. The firm has a market capitalization of $783.15 million, a PE ratio of -15.82 and a beta of 0.86. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.
Insider Buying and Selling
In related news, CFO Mark Leonard Singleton sold 6,498 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total value of $66,214.62. Following the completion of the transaction, the chief financial officer now owns 118,817 shares in the company, valued at $1,210,745.23. This trade represents a 5.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the senior vice president now owns 47,264 shares of the company's stock, valued at $497,689.92. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,950 shares of company stock valued at $522,437 over the last three months. Company insiders own 32.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on BVS shares. JPMorgan Chase & Co. raised Bioventus from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $12.00 to $13.00 in a report on Tuesday, December 17th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 target price on shares of Bioventus in a report on Monday, March 17th.
Get Our Latest Stock Analysis on Bioventus
About Bioventus
(
Free Report)
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.
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