Royce & Associates LP Invests $8.34 Million in Bioventus Inc. (NYSE:BVS)

Royce & Associates LP acquired a new position in Bioventus Inc. (NYSE:BVS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 697,696 shares of the company's stock, valued at approximately $8,337,000. Royce & Associates LP owned about 0.86% of Bioventus at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Bioventus in the first quarter valued at about $66,000. Acadian Asset Management LLC purchased a new position in Bioventus in the first quarter valued at approximately $28,000. Hillsdale Investment Management Inc. grew its holdings in Bioventus by 26.1% during the first quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company's stock valued at $181,000 after purchasing an additional 7,200 shares during the period. Lazard Asset Management LLC purchased a new stake in Bioventus in the first quarter worth $40,000. Finally, Kennedy Capital Management LLC raised its stake in shares of Bioventus by 66.8% in the first quarter. Kennedy Capital Management LLC now owns 120,134 shares of the company's stock valued at $625,000 after buying an additional 48,111 shares during the period. Institutional investors own 62.94% of the company's stock.

Analyst Ratings Changes

BVS has been the subject of several recent research reports. Canaccord Genuity Group lifted their price objective on Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Craig Hallum lifted their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, September 27th.

Bioventus Stock Performance

Shares of NYSE BVS traded up $0.01 during mid-day trading on Monday, hitting $11.25. The company had a trading volume of 305,430 shares, compared to its average volume of 400,118. The stock's 50-day moving average price is $11.97 and its 200-day moving average price is $8.73. The company has a market capitalization of $912.94 million, a price-to-earnings ratio of -18.43 and a beta of 0.88. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. Bioventus Inc. has a 1 year low of $3.67 and a 1 year high of $14.38.

Bioventus (NYSE:BVS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The firm had revenue of $138.96 million for the quarter, compared to analysts' expectations of $132.57 million. During the same period in the prior year, the business posted $0.05 earnings per share. On average, sell-side analysts forecast that Bioventus Inc. will post 0.41 earnings per share for the current year.

About Bioventus

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.