Millennium Management LLC Reduces Holdings in Bioventus Inc. (NYSE:BVS)

Millennium Management LLC lowered its position in Bioventus Inc. (NYSE:BVS - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 370,783 shares of the company's stock after selling 60,811 shares during the period. Millennium Management LLC owned approximately 0.46% of Bioventus worth $3,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BVS. Vanguard Group Inc. lifted its stake in shares of Bioventus by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company's stock worth $25,852,000 after acquiring an additional 388,174 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Bioventus by 33.7% in the fourth quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company's stock worth $11,758,000 after purchasing an additional 282,341 shares during the last quarter. American Century Companies Inc. increased its stake in Bioventus by 38.7% in the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company's stock worth $9,289,000 after buying an additional 246,645 shares during the period. BNP Paribas Financial Markets purchased a new position in Bioventus in the 4th quarter worth about $1,659,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Bioventus by 55.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 427,422 shares of the company's stock valued at $4,488,000 after buying an additional 152,311 shares in the last quarter. Hedge funds and other institutional investors own 62.94% of the company's stock.

Insider Activity

In related news, CFO Mark Leonard Singleton sold 5,479 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $9.79, for a total transaction of $53,639.41. Following the completion of the sale, the chief financial officer now owns 131,963 shares of the company's stock, valued at $1,291,917.77. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 13,330 shares of company stock worth $115,291. 32.90% of the stock is currently owned by company insiders.

Bioventus Stock Up 3.4%

NYSE BVS traded up $0.22 during trading on Tuesday, reaching $6.66. 271,909 shares of the company's stock traded hands, compared to its average volume of 454,435. Bioventus Inc. has a 12-month low of $5.28 and a 12-month high of $14.38. 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 firm has a market cap of $547.08 million, a price-to-earnings ratio of -10.92 and a beta of 0.95. The company's 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $9.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BVS shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 target price on shares of Bioventus in a research report on Monday, March 17th. Craig Hallum set a $15.00 price objective on Bioventus and gave the stock a "buy" rating in a report on Wednesday, May 7th.

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.