Sheets Smith Investment Management Buys New Stake in Bioventus Inc. (NYSE:BVS)

Sheets Smith Investment Management acquired a new stake in shares of Bioventus Inc. (NYSE:BVS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 142,723 shares of the company's stock, valued at approximately $1,499,000. Bioventus accounts for 1.3% of Sheets Smith Investment Management's investment portfolio, making the stock its 27th largest holding. Sheets Smith Investment Management owned 0.18% of Bioventus as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Bioventus from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $12.00 to $13.00 in a report on Tuesday, December 17th. Canaccord Genuity Group reiterated a "buy" rating and issued a $15.00 price target on shares of Bioventus in a report on Monday, March 17th.

Bioventus Stock Down 0.7 %

NYSE:BVS traded down $0.06 during mid-day trading on Friday, reaching $9.03. The company's stock had a trading volume of 251,471 shares, compared to its average volume of 431,244. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $739.95 million, a PE ratio of -14.80 and a beta of 0.86. The stock has a fifty day moving average of $10.07 and a 200-day moving average of $10.97. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38.

Insider Transactions at Bioventus

In other news, CFO Mark Leonard Singleton sold 5,479 shares of Bioventus stock in a transaction on Monday, March 24th. The stock was sold at an average price of $9.79, for a total value of $53,639.41. Following the transaction, the chief financial officer now directly owns 131,963 shares in the company, valued at approximately $1,291,917.77. This trade represents a 3.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $44,632.20. Following the sale, the senior vice president now owns 118,178 shares of the company's stock, valued at $1,204,233.82. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,161 shares of company stock valued at $436,364. Company insiders own 32.90% of the company's stock.

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.