Driehaus Capital Management LLC Buys 325,402 Shares of Bioventus Inc. $BVS

Key Points

• Driehaus Capital Management LLC increased its stake in Bioventus Inc. by 29.1% during Q1, owning approximately 1.76% of the company worth around $13.22 million.
• Bioventus stock is currently valued at $7.40 with a market cap of $611.82 million and a P/E ratio of -12.13.
• Analysts have a consensus target price of $13.75 for Bioventus, with three analysts rating the stock as a "Buy."

Driehaus Capital Management LLC boosted its position in Bioventus Inc. (NYSE:BVS - Free Report) by 29.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445,257 shares of the company's stock after buying an additional 325,402 shares during the period. Driehaus Capital Management LLC owned approximately 1.76% of Bioventus worth $13,224,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings 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 worth $36,000 after purchasing an additional 1,786 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Bioventus by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 14,096 shares of the company's stock worth $148,000 after acquiring an additional 2,047 shares during the last quarter. EntryPoint Capital LLC lifted its position in Bioventus by 7.8% in the 1st quarter. EntryPoint Capital LLC now owns 28,371 shares of the company's stock valued at $260,000 after acquiring an additional 2,048 shares in the last quarter. Summit Global Investments boosted its stake in Bioventus by 3.9% during the 1st quarter. Summit Global Investments now owns 54,752 shares of the company's stock valued at $501,000 after purchasing an additional 2,077 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Bioventus by 26.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,194 shares of the company's stock worth $160,000 after buying an additional 3,153 shares in the last quarter. Institutional investors and hedge funds own 62.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BVS. Cantor Fitzgerald assumed coverage on Bioventus in a research note on Monday, July 7th. They issued an "overweight" rating and a $12.00 target price on the stock. Craig Hallum set a $15.00 price objective on Bioventus and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Bioventus has a consensus rating of "Moderate Buy" and a consensus price target of $13.75.

Bioventus Stock Performance

Shares of NYSE BVS traded up $0.09 during trading on Thursday, reaching $7.13. 100,689 shares of the stock traded hands, compared to its average volume of 401,237. 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 stock has a market capitalization of $589.09 million, a P/E ratio of -11.68 and a beta of 0.84. Bioventus Inc. has a 52-week low of $5.81 and a 52-week high of $14.38. The company has a 50-day moving average of $6.92 and a 200-day moving average of $7.62.

Bioventus 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.