Spire Wealth Management Invests $402,000 in Bioventus Inc. (NYSE:BVS)

Spire Wealth Management purchased a new stake in 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 firm purchased 38,243 shares of the company's stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Virtus Fund Advisers LLC acquired a new stake in shares of Bioventus during the third quarter worth about $42,000. Quest Partners LLC acquired a new stake in shares of Bioventus in the 3rd quarter worth approximately $51,000. Quarry LP acquired a new stake in Bioventus during the 3rd quarter valued at $59,000. Covestor Ltd purchased a new position in shares of Bioventus during the 3rd quarter worth $69,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Bioventus during the 2nd quarter worth $77,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Katrina J. Church sold 2,535 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total transaction of $26,693.55. Following the sale, the senior vice president now owns 47,264 shares of the company's stock, valued at $497,689.92. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the sale, the chief executive officer now directly owns 64,964 shares in the company, valued at approximately $591,172.40. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,054 shares of company stock worth $401,665. Corporate insiders own 32.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Bioventus from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th. Canaccord Genuity Group increased their target price on Bioventus from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th.

Bioventus Stock Down 2.8 %

Shares of Bioventus stock traded down $0.30 during trading hours on Friday, hitting $10.54. 257,084 shares of the company's stock traded hands, compared to its average volume of 245,081. The stock has a 50 day simple moving average of $10.55 and a 200-day simple moving average of $10.64. 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 company has a market cap of $855.32 million, a PE ratio of 27.80 and a beta of 0.85. Bioventus Inc. has a twelve month low of $3.90 and a twelve month high of $14.38.

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.