Summit Global Investments Acquires Shares of 52,675 Bioventus Inc. (NYSE:BVS)

Summit Global Investments bought a new stake in Bioventus Inc. (NYSE:BVS) during the fourth quarter, HoldingsChannel.com reports. The firm bought 52,675 shares of the company’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BVS. Virtus Fund Advisers LLC bought a new stake in shares of Bioventus during the 3rd quarter worth $42,000. Plato Investment Management Ltd acquired a new stake in shares of Bioventus in the 4th quarter valued at approximately $38,000. Quest Partners LLC bought a new stake in shares of Bioventus during the 3rd quarter valued at approximately $51,000. Quarry LP acquired a new position in Bioventus during the 3rd quarter worth approximately $59,000. Finally, Arizona State Retirement System bought a new position in Bioventus in the 4th quarter valued at approximately $109,000. Institutional investors own 62.94% of the company’s stock.

Bioventus Trading Up 0.7 %

Shares of NYSE BVS opened at $9.72 on Tuesday. The stock has a market cap of $788.83 million, a P/E ratio of -15.93 and a beta of 0.86. The firm has a 50 day moving average price of $10.11 and a two-hundred day moving average price of $11.01. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. Bioventus Inc. has a 52-week low of $3.90 and a 52-week high of $14.38.

Insider Activity at Bioventus

In related news, CEO Robert E. Claypoole sold 28,786 shares of the company’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 $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Anthony D’adamio sold 4,380 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total transaction of $44,632.20. Following the transaction, the senior vice president now owns 118,178 shares of the company’s stock, valued at approximately $1,204,233.82. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,682 shares of company stock worth $382,725 over the last three months. Company insiders own 32.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BVS shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Bioventus in a research note on Monday, March 17th. JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $13.00 in a report on Tuesday, December 17th.

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.