Royce & Associates LP Buys 159,980 Shares of Bioventus Inc. (NYSE:BVS)

Key Points

• Royce & Associates LP increased its stake in Bioventus Inc. by 21.8% during the first quarter, now owning 892,216 shares valued at approximately $8.16 million.
• Bioventus' shares opened at $6.57 with a 52-week range of $6.02 to $14.38, indicating significant volatility.
• Brokerages such as Cantor Fitzgerald and Craig Hallum have given Bioventus an "overweight" rating with price targets of $12.00 and $15.00, respectively.

Royce & Associates LP increased its holdings in Bioventus Inc. (NYSE:BVS - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 892,216 shares of the company's stock after purchasing an additional 159,980 shares during the quarter. Royce & Associates LP owned approximately 1.09% of Bioventus worth $8,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BVS. Vanguard Group Inc. raised its holdings in shares of Bioventus by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company's stock valued at $25,852,000 after purchasing an additional 388,174 shares during the period. Driehaus Capital Management LLC raised its holdings 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 during the period. American Century Companies Inc. raised its holdings in shares of Bioventus by 38.7% during the fourth quarter. American Century Companies Inc. now owns 884,673 shares of the company's stock valued at $9,289,000 after purchasing an additional 246,645 shares during the period. Nuveen Asset Management LLC raised its holdings 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 purchasing an additional 135,236 shares during the period. Finally, Oberweis Asset Management Inc. raised its holdings in shares of Bioventus by 17.8% during the fourth quarter. Oberweis Asset Management Inc. now owns 601,714 shares of the company's stock valued at $6,318,000 after purchasing an additional 90,800 shares during the period. Institutional investors own 62.94% of the company's stock.

Bioventus Stock Up 4.0%

NYSE:BVS traded up $0.26 on Wednesday, hitting $6.80. The stock had a trading volume of 282,909 shares, compared to its average volume of 374,970. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock has a market cap of $558.58 million, a P/E ratio of -11.15 and a beta of 0.84. Bioventus Inc. has a 1 year low of $6.02 and a 1 year high of $14.38. The firm's fifty day simple moving average is $6.66 and its two-hundred day simple moving average is $8.18.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Craig Hallum set a $15.00 target price on shares of Bioventus and gave the stock a "buy" rating in a report on Wednesday, May 7th. Cantor Fitzgerald assumed coverage on shares of Bioventus in a report on Monday, July 7th. They issued an "overweight" rating and a $12.00 target price on the stock.

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.