American Century Companies Inc. Buys 159,539 Shares of Bioventus Inc. $BVS

Key Points

• American Century Companies Inc. raised its stake in Bioventus Inc. by 18.0%, now owning approximately 1.27% of the company worth about $9.56 million.
• A number of brokerage firms have initiated coverage on BVS, with Cantor Fitzgerald rating it as "overweight" with a price target of $12.00 and Craig Hallum setting a price target of $15.00.
• Despite recent institutional investments, BVS stock has decreased by 2.3%, currently trading at $7.27, with a 52-week range from $5.81 to $14.38.

American Century Companies Inc. grew its position in Bioventus Inc. (NYSE:BVS - Free Report) by 18.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,044,212 shares of the company's stock after purchasing an additional 159,539 shares during the quarter. American Century Companies Inc. owned approximately 1.27% of Bioventus worth $9,555,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Bioventus by 106.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company's stock valued at $36,000 after purchasing an additional 1,786 shares during the last quarter. GAMMA Investing LLC boosted its stake in Bioventus by 3,228.7% during the first quarter. GAMMA Investing LLC now owns 5,792 shares of the company's stock worth $53,000 after acquiring an additional 5,618 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Bioventus by 23,761.5% during the first quarter. Russell Investments Group Ltd. now owns 6,204 shares of the company's stock worth $57,000 after acquiring an additional 6,178 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in Bioventus during the fourth quarter worth $111,000. Finally, ProShare Advisors LLC bought a new position in Bioventus during the fourth quarter worth $113,000. 62.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BVS has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Bioventus in a research note on Monday, July 7th. They set an "overweight" rating and a $12.00 target price on the stock. Craig Hallum set a $15.00 target price on shares of Bioventus and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Bioventus presently has a consensus rating of "Moderate Buy" and an average target price of $13.75.

Bioventus Stock Up 2.1%

Shares of Bioventus stock traded up $0.15 during trading hours on Monday, reaching $7.40. The company's stock had a trading volume of 295,487 shares, compared to its average volume of 404,416. 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 stock's fifty day simple moving average is $6.89 and its two-hundred day simple moving average is $7.65. The company has a market capitalization of $611.82 million, a P/E ratio of -12.13 and a beta of 0.84. Bioventus Inc. has a one year low of $5.81 and a one year high of $14.38.

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.