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

JPMorgan Chase & Co. boosted its holdings in Bioventus Inc. (NYSE:BVS - Free Report) by 228.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,740 shares of the company's stock after purchasing an additional 176,442 shares during the period. JPMorgan Chase & Co. owned about 0.31% of Bioventus worth $3,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BVS. Squarepoint Ops LLC raised its holdings in shares of Bioventus by 13.8% in the 2nd quarter. Squarepoint Ops LLC now owns 26,171 shares of the company's stock worth $150,000 after purchasing an additional 3,170 shares during the period. Virtus Fund Advisers LLC purchased a new stake in Bioventus in the third quarter worth $42,000. Quest Partners LLC bought a new stake in shares of Bioventus in the third quarter valued at $51,000. Quarry LP purchased a new position in shares of Bioventus during the 3rd quarter valued at $59,000. Finally, Covestor Ltd bought a new position in shares of Bioventus during the 3rd quarter worth $69,000. Institutional investors own 62.94% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on BVS. JPMorgan Chase & Co. raised shares of Bioventus from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $12.00 to $13.00 in a report on Tuesday, December 17th. Craig Hallum boosted their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Finally, Canaccord Genuity Group raised their price objective on shares of Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th.

Bioventus Price Performance

NYSE BVS traded down $0.07 during trading hours on Monday, hitting $10.04. The company had a trading volume of 370,171 shares, compared to its average volume of 274,295. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The firm has a market capitalization of $814.75 million, a price-to-earnings ratio of -16.46 and a beta of 0.85. Bioventus Inc. has a 52 week low of $3.90 and a 52 week high of $14.38. The firm has a 50 day simple moving average of $10.93 and a 200 day simple moving average of $10.28.

Bioventus (NYSE:BVS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, meeting 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 company had revenue of $138.96 million during the quarter, compared to analysts' expectations of $132.57 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Transactions at Bioventus

In related news, CEO Robert E. Claypoole sold 28,786 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were 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 in the company, valued at approximately $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katrina J. Church sold 2,535 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the completion of the sale, the senior vice president now directly owns 47,264 shares in the company, valued at $497,689.92. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,054 shares of company stock valued at $401,665. 32.90% of the stock is currently owned by company insiders.

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.