JPMorgan Chase & Co. Increases Stock Position in Bioventus Inc. (NYSE:BVS)

JPMorgan Chase & Co. raised its stake in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,130 shares of the company's stock after purchasing an additional 45,390 shares during the period. JPMorgan Chase & Co. owned 0.37% of Bioventus worth $3,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Bioventus by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company's stock worth $25,852,000 after acquiring an additional 388,174 shares during the period. Geode Capital Management LLC lifted its position in shares of Bioventus by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 940,496 shares of the company's stock worth $11,241,000 after purchasing an additional 65,374 shares during the period. American Century Companies Inc. boosted its stake in shares of Bioventus by 38.7% in the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company's stock valued at $9,289,000 after purchasing an additional 246,645 shares during the last quarter. Royce & Associates LP increased its position in shares of Bioventus by 5.0% during the fourth quarter. Royce & Associates LP now owns 732,236 shares of the company's stock worth $7,688,000 after buying an additional 34,540 shares during the period. Finally, State Street Corp raised its stake in Bioventus by 38.8% during the third quarter. State Street Corp now owns 676,501 shares of the company's stock worth $8,084,000 after buying an additional 189,216 shares during the last quarter. 62.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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.

Bioventus Stock Down 0.9 %

BVS traded down $0.07 during midday trading on Friday, hitting $7.66. The company had a trading volume of 117,230 shares, compared to its average volume of 446,854. The stock's 50 day moving average price is $9.07 and its 200 day moving average price is $10.50. Bioventus Inc. has a 52 week low of $3.90 and a 52 week high of $14.38. The company has a market capitalization of $627.69 million, a price-to-earnings ratio of -12.56 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85.

Insider Buying and Selling

In related news, CFO Mark Leonard Singleton sold 3,875 shares of Bioventus stock in a transaction on Friday, April 11th. The shares were sold at an average price of $7.57, for a total value of $29,333.75. Following the completion of the sale, the chief financial officer now owns 141,088 shares of the company's stock, valued at approximately $1,068,036.16. This trade represents a 2.67 % 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 Anthony D'adamio sold 4,380 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total transaction of $44,632.20. Following the transaction, the senior vice president now owns 118,178 shares in the company, valued at approximately $1,204,233.82. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,208 shares of company stock valued at $226,138. 32.90% of the stock is owned by company insiders.

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.