Vanguard Group Inc. Buys 92,143 Shares of Bioventus Inc. $BVS

Key Points

• Vanguard Group Inc. increased its stake in Bioventus Inc. by 3.7%, owning a total of 2,554,224 shares valued at approximately $23.37 million after acquiring an additional 92,143 shares.
• Several hedge funds have also boosted their positions in Bioventus, with Driehaus Capital Management increasing holdings by 33.7% and Dimensional Fund Advisors boosting its position by 55.4% in the previous quarter.
• Analysts maintain a moderate buy rating for Bioventus, with a price target averaging $13.75, while the stock recently opened at $7.25 after a 3.2% decline.

Vanguard Group Inc. raised its position in Bioventus Inc. (NYSE:BVS - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,554,224 shares of the company's stock after acquiring an additional 92,143 shares during the quarter. Vanguard Group Inc. owned 3.12% of Bioventus worth $23,371,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Bioventus by 32.0% in the fourth quarter. Wells Fargo & Company MN now owns 22,494 shares of the company's stock worth $236,000 after purchasing an additional 5,459 shares during the period. Legal & General Group Plc raised its stake in shares of Bioventus by 897.9% during the fourth quarter. Legal & General Group Plc now owns 35,536 shares of the company's stock valued at $373,000 after purchasing an additional 31,975 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Bioventus during the fourth quarter valued at about $171,000. Barclays PLC raised its stake in shares of Bioventus by 31.0% during the fourth quarter. Barclays PLC now owns 66,337 shares of the company's stock valued at $696,000 after purchasing an additional 15,683 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bioventus by 55.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 427,422 shares of the company's stock valued at $4,488,000 after purchasing an additional 152,311 shares in the last quarter. Institutional investors and hedge funds own 62.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BVS shares. Cantor Fitzgerald started coverage on Bioventus in a report on Monday, July 7th. They set an "overweight" rating and a $12.00 target price on the stock. Craig Hallum set a $15.00 target price on Bioventus and gave the stock a "buy" rating in a report 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 currently has an average rating of "Moderate Buy" and a consensus target price of $13.75.

Bioventus Trading Up 2.1%

BVS traded up $0.15 during trading on Monday, reaching $7.40. The company had a trading volume of 295,487 shares, compared to its average volume of 404,416. The firm's 50-day simple moving average is $6.89 and its 200 day simple moving average is $7.65. The company has a market cap of $611.82 million, a price-to-earnings ratio of -12.13 and a beta of 0.84. Bioventus Inc. has a 12-month low of $5.81 and a 12-month high of $14.38. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41.

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.