Invesco Ltd. Buys 248,932 Shares of Bioventus Inc. $BVS

Key Points

• Invesco Ltd. significantly increased its stake in Bioventus Inc. by 1,303.6%, acquiring an additional 248,932 shares during the first quarter, bringing its total ownership to 268,028 shares worth approximately $2.45 million.
• Other institutional investors, including Driehaus Capital Management and Dimensional Fund Advisors, also raised their positions in Bioventus, contributing to a total institutional ownership of 62.94% of the company's stock.
• Analysts have set price targets for Bioventus, with Craig Hallum establishing a target of $15.00 while the average target price stands at $13.75, indicating a general sentiment of a "Moderate Buy."

Invesco Ltd. raised its holdings in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 1,303.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 268,028 shares of the company's stock after purchasing an additional 248,932 shares during the period. Invesco Ltd. owned 0.33% of Bioventus worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BVS. Driehaus Capital Management LLC increased its stake in shares of Bioventus by 33.7% during the fourth quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company's stock valued at $11,758,000 after purchasing an additional 282,341 shares in the last quarter. Royce & Associates LP increased its stake in shares of Bioventus by 21.8% during the first quarter. Royce & Associates LP now owns 892,216 shares of the company's stock valued at $8,164,000 after purchasing an additional 159,980 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Bioventus during the fourth quarter valued at approximately $1,659,000. Dimensional Fund Advisors LP increased its position in shares of Bioventus by 55.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 427,422 shares of the company's stock valued at $4,488,000 after acquiring an additional 152,311 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Bioventus by 20.9% during the fourth quarter. Nuveen Asset Management LLC now owns 782,137 shares of the company's stock valued at $8,212,000 after acquiring an additional 135,236 shares in the last quarter. Institutional investors own 62.94% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Craig Hallum set a $15.00 price target on shares of Bioventus and gave the company a "buy" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald assumed coverage on shares of Bioventus in a research report on Monday, July 7th. They set an "overweight" rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Bioventus currently has an average rating of "Moderate Buy" and an average target price of $13.75.

Bioventus Price Performance

Shares of BVS opened at $7.40 on Friday. The firm has a market cap of $611.82 million, a PE ratio of -12.13 and a beta of 0.83. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The firm has a fifty day simple moving average of $6.89 and a two-hundred day simple moving average of $7.67. Bioventus Inc. has a 1-year low of $5.81 and a 1-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.

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