Los Angeles Capital Management LLC trimmed its holdings in Bioventus Inc. (NYSE:BVS - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,320 shares of the company's stock after selling 43,144 shares during the period. Los Angeles Capital Management LLC owned 0.12% of Bioventus worth $1,053,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royce & Associates LP acquired a new position in Bioventus during the third quarter worth approximately $8,337,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Bioventus during the 3rd quarter valued at $4,515,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Bioventus during the 3rd quarter valued at $3,092,000. State Street Corp boosted its holdings in Bioventus by 38.8% in the third quarter. State Street Corp now owns 676,501 shares of the company's stock valued at $8,084,000 after acquiring an additional 189,216 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Bioventus by 228.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,740 shares of the company's stock worth $3,032,000 after purchasing an additional 176,442 shares during the period. Hedge funds and other institutional investors own 62.94% of the company's stock.
Insider Activity
In related news, 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 owns 64,964 shares in the company, valued at approximately $591,172.40. The trade was a 30.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $26,693.55. Following the sale, the senior vice president now owns 47,264 shares of the company's stock, valued at approximately $497,689.92. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,932 shares of company stock worth $512,511. 32.90% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Bioventus from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th. Canaccord Genuity Group upped their price target on shares of Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th.
Check Out Our Latest Report on Bioventus
Bioventus Stock Up 1.0 %
NYSE BVS traded up $0.10 on Wednesday, reaching $10.19. The company had a trading volume of 249,812 shares, compared to its average volume of 270,724. The firm has a market capitalization of $826.97 million, a PE ratio of -16.70 and a beta of 0.85. The firm has a 50-day moving average of $10.22 and a 200-day moving average of $10.99. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.
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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