Point72 Asset Management L.P. Makes New $788,000 Investment in Bioventus Inc. (NYSE:BVS)

Point72 Asset Management L.P. purchased a new position in shares of Bioventus Inc. (NYSE:BVS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,974 shares of the company's stock, valued at approximately $788,000. Point72 Asset Management L.P. owned 0.08% of Bioventus as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its holdings in shares of Bioventus by 13.8% during the second 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 last quarter. Quest Partners LLC bought a new stake in shares of Bioventus during the third quarter valued at approximately $51,000. Covestor Ltd bought a new position in Bioventus in the 3rd quarter valued at $69,000. CWM LLC acquired a new stake in Bioventus in the third quarter worth about $89,000. Finally, HB Wealth Management LLC bought a new stake in Bioventus during the 2nd quarter worth about $60,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BVS has been the subject of several analyst reports. Craig Hallum lifted their price target on shares of Bioventus from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Canaccord Genuity Group increased their target price 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 Trading Down 3.8 %

Shares of Bioventus stock traded down $0.44 during trading hours on Thursday, hitting $11.14. The company's stock had a trading volume of 188,314 shares, compared to its average volume of 395,067. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The company has a market capitalization of $904.07 million, a PE ratio of -18.26 and a beta of 0.79. The stock has a 50 day moving average of $12.10 and a 200 day moving average of $9.49. 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 released its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. The firm had revenue of $138.96 million during the quarter, compared to analysts' expectations of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same quarter in the prior year, the company earned $0.05 EPS. Analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current year.

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.