Jacobs Levy Equity Management Inc. Sells 62,447 Shares of Bioventus Inc. $BVS

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Bioventus by 36.4%, selling 62,447 shares and owning approximately 109,215 shares worth about $999,000 after the sale.
• Institutional investors collectively own 62.94% of Bioventus, with several firms, including Nantahala Capital Management and Vanguard Group, increasing their holdings during the first quarter.
• Analysts have set a new price target of $12.00 on Bioventus, which is currently rated as a "Moderate Buy" with an average target price of $13.75.

Jacobs Levy Equity Management Inc. lowered its position in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 36.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,215 shares of the company's stock after selling 62,447 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.13% of Bioventus worth $999,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Nantahala Capital Management LLC boosted its position in Bioventus by 2.5% during the first quarter. Nantahala Capital Management LLC now owns 4,125,650 shares of the company's stock valued at $37,750,000 after acquiring an additional 98,841 shares during the last quarter. Vanguard Group Inc. boosted its position in Bioventus by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,554,224 shares of the company's stock valued at $23,371,000 after acquiring an additional 92,143 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Bioventus by 29.1% during the first quarter. Driehaus Capital Management LLC now owns 1,445,257 shares of the company's stock valued at $13,224,000 after acquiring an additional 325,402 shares during the last quarter. American Century Companies Inc. boosted its position in Bioventus by 18.0% during the first quarter. American Century Companies Inc. now owns 1,044,212 shares of the company's stock valued at $9,555,000 after acquiring an additional 159,539 shares during the last quarter. Finally, Royce & Associates LP boosted its position in 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 acquiring an additional 159,980 shares during the last quarter. Institutional investors own 62.94% of the company's stock.

Bioventus Stock Performance

Shares of BVS opened at $7.28 on Friday. 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 50-day moving average of $6.96 and a 200-day moving average of $7.50. The company has a market cap of $601.90 million, a PE ratio of -11.93 and a beta of 0.84. Bioventus Inc. has a one year low of $5.81 and a one year high of $14.38.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald initiated coverage on shares of Bioventus in a research report on Monday, July 7th. They set an "overweight" rating and a $12.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $13.75.

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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