Summit Global Investments Makes New Investment in Bioventus Inc. (NYSE:BVS)

Summit Global Investments acquired a new stake in Bioventus Inc. (NYSE:BVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 52,675 shares of the company’s stock, valued at approximately $553,000. Summit Global Investments owned 0.06% of Bioventus at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC lifted its stake in Bioventus by 74.3% in the 4th quarter. Intech Investment Management LLC now owns 24,365 shares of the company’s stock valued at $256,000 after purchasing an additional 10,384 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Bioventus by 5.0% during the 4th quarter. Royce & Associates LP now owns 732,236 shares of the company’s stock worth $7,688,000 after acquiring an additional 34,540 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Bioventus by 172.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,487 shares of the company’s stock worth $289,000 after acquiring an additional 17,405 shares during the last quarter. Swiss National Bank bought a new stake in Bioventus in the 4th quarter valued at $740,000. Finally, HighTower Advisors LLC raised its stake in Bioventus by 11.3% in the 4th quarter. HighTower Advisors LLC now owns 13,617 shares of the company’s stock valued at $143,000 after acquiring an additional 1,380 shares during the period. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BVS has been the topic of several research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of Bioventus in a report on Monday, March 17th. JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $13.00 in a report on Tuesday, December 17th.

Bioventus Stock Performance

BVS opened at $9.72 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The company has a market capitalization of $788.83 million, a PE ratio of -15.93 and a beta of 0.86. The business has a fifty day simple moving average of $10.11 and a 200 day simple moving average of $11.01. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38.

Insider Activity

In other Bioventus news, CFO Mark Leonard Singleton sold 6,498 shares of Bioventus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total value of $66,214.62. Following the completion of the transaction, the chief financial officer now directly owns 118,817 shares of the company’s stock, valued at $1,210,745.23. The trade was a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the stock in a transaction 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. This trade represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,682 shares of company stock valued at $382,725. 32.90% of the stock is owned by company insiders.

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.