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

Royce & Associates LP bought a new position in shares of Bioventus Inc. (NYSE:BVS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 697,696 shares of the company’s stock, valued at approximately $8,337,000.

A number of other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Bioventus during the 1st quarter valued at $28,000. Covestor Ltd purchased a new stake in shares of Bioventus during the 3rd quarter valued at $69,000. CWM LLC purchased a new stake in shares of Bioventus during the 3rd quarter valued at $89,000. Lazard Asset Management LLC purchased a new stake in shares of Bioventus during the 1st quarter valued at $40,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Bioventus during the 2nd quarter valued at $60,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Bioventus Stock Up 1.0 %

BVS stock opened at $11.24 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The company has a market capitalization of $912.13 million, a price-to-earnings ratio of -18.43 and a beta of 0.88. Bioventus Inc. has a fifty-two week low of $3.64 and a fifty-two week high of $14.38. The stock has a fifty day moving average of $11.97 and a 200-day moving average of $8.73.

Bioventus (NYSE:BVS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $138.96 million during the quarter, compared to the consensus estimate 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. As a group, equities research analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BVS. Canaccord Genuity Group raised their target price on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum increased their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

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.