Jacobs Levy Equity Management Inc. Lowers Stock Holdings in 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. reduced its holdings in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 36.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,215 shares of the company's stock after selling 62,447 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.13% of Bioventus worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Bioventus by 106.1% in the fourth 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 period. GAMMA Investing LLC increased its holdings in shares of Bioventus by 3,228.7% in the first quarter. GAMMA Investing LLC now owns 5,792 shares of the company's stock valued at $53,000 after purchasing an additional 5,618 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Bioventus by 23,761.5% in the first quarter. Russell Investments Group Ltd. now owns 6,204 shares of the company's stock valued at $57,000 after purchasing an additional 6,178 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in shares of Bioventus in the fourth quarter valued at about $111,000. Finally, ProShare Advisors LLC acquired a new position in shares of Bioventus in the fourth quarter valued at about $113,000. 62.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bioventus Price Performance

BVS traded up $0.09 during trading on Wednesday, reaching $6.93. The company's stock had a trading volume of 290,087 shares, compared to its average volume of 395,858. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The firm has a fifty day simple moving average of $6.96 and a two-hundred day simple moving average of $7.42. The company has a market cap of $572.97 million, a price-to-earnings ratio of -11.36 and a beta of 0.84. 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.