Fmr LLC Raises Position in Bioventus Inc. (NYSE:BVS)

FMR LLC lifted its holdings in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 21,256.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,795 shares of the company's stock after purchasing an additional 166,014 shares during the period. FMR LLC owned 0.21% of Bioventus worth $1,993,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Bioventus in the 3rd quarter valued at about $51,000. HB Wealth Management LLC bought a new position in shares of Bioventus during the 2nd quarter valued at approximately $60,000. Covestor Ltd bought a new stake in shares of Bioventus in the third quarter valued at $69,000. Mackenzie Financial Corp bought a new position in Bioventus during the second quarter worth about $77,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Bioventus during the 2nd quarter valued at approximately $87,000. Institutional investors and hedge funds own 62.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BVS. Craig Hallum boosted their price objective on Bioventus from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their target price on Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th.

Bioventus Trading Up 1.1 %

BVS traded up $0.12 during trading on Monday, hitting $11.15. 202,962 shares of the stock traded hands, compared to its average volume of 393,199. The firm has a market capitalization of $904.88 million, a P/E ratio of -18.08 and a beta of 0.79. The firm has a 50-day moving average of $12.08 and a 200 day moving average of $9.56. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. Bioventus Inc. has a 12-month low of $3.90 and a 12-month high of $14.38.

Bioventus (NYSE:BVS - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The firm had revenue of $138.96 million during the quarter, compared to analysts' expectations of $132.57 million. During the same period last year, the company posted $0.05 EPS. Equities research analysts anticipate that Bioventus Inc. will post 0.41 EPS for the current year.

Bioventus 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.