Nuveen LLC Buys New Holdings in Bioventus Inc. $BVS

Key Points

• Nuveen LLC has acquired a new stake in Bioventus Inc. (NYSE:BVS), purchasing 513,624 shares valued at approximately $4.7 million.
• Several major investors, including Invesco and Vanguard Group, have significantly increased their holdings in Bioventus, with institutional investors collectively owning 62.94% of the stock.
• Analysts have given Bioventus a consensus price target of $13.75, with ratings ranging from "Buy" to "Hold" based on recent reports.

Nuveen LLC acquired a new position in Bioventus Inc. (NYSE:BVS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 513,624 shares of the company's stock, valued at approximately $4,700,000. Nuveen LLC owned about 0.63% of Bioventus at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Bioventus by 1,303.6% in the first quarter. Invesco Ltd. now owns 268,028 shares of the company's stock worth $2,452,000 after buying an additional 248,932 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bioventus by 2.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,129 shares of the company's stock worth $1,840,000 after buying an additional 4,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bioventus by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 448,247 shares of the company's stock worth $4,101,000 after buying an additional 12,903 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bioventus by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,554,224 shares of the company's stock worth $23,371,000 after buying an additional 92,143 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Bioventus by 27.3% in the first quarter. Mackenzie Financial Corp now owns 41,090 shares of the company's stock worth $376,000 after buying an additional 8,824 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Bioventus Stock Performance

Shares of Bioventus stock traded up $0.15 during midday trading on Monday, hitting $7.40. The company had a trading volume of 295,487 shares, compared to its average volume of 404,416. The business's 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $7.65. The stock has a market cap of $611.82 million, a PE ratio of -12.13 and a beta of 0.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. Bioventus Inc. has a 1-year low of $5.81 and a 1-year high of $14.38.

Analyst Upgrades and Downgrades

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

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.