JPMorgan Chase & Co. Boosts Stock Position in Bioventus Inc. (NYSE:BVS)

JPMorgan Chase & Co. raised its stake in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 17.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 299,130 shares of the company's stock after purchasing an additional 45,390 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of Bioventus worth $3,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new position in shares of Bioventus during the 4th quarter worth approximately $38,000. KLP Kapitalforvaltning AS purchased a new position in Bioventus in the fourth quarter worth $75,000. Quantbot Technologies LP bought a new position in Bioventus in the 4th quarter valued at $103,000. Arizona State Retirement System purchased a new position in shares of Bioventus in the 4th quarter worth about $109,000. Finally, HighTower Advisors LLC grew its position in Bioventus by 11.3% during the fourth quarter. HighTower Advisors LLC now owns 13,617 shares of the company's stock valued at $143,000 after buying an additional 1,380 shares during the period. 62.94% of the stock is owned by institutional investors.

Insider Activity

In other Bioventus news, SVP Anthony D'adamio sold 4,380 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the transaction, the senior vice president now directly owns 118,178 shares of the company's stock, valued at $1,204,233.82. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Leonard Singleton sold 3,875 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $7.57, for a total transaction of $29,333.75. Following the completion of the transaction, the chief financial officer now directly owns 141,088 shares in the company, valued at approximately $1,068,036.16. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,208 shares of company stock worth $226,138. 32.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a "buy" rating and set a $15.00 target price on shares of Bioventus in a research report on Monday, March 17th.

Bioventus Stock Performance

Shares of NYSE BVS traded down $0.08 during midday trading on Friday, hitting $7.65. The company's stock had a trading volume of 239,188 shares, compared to its average volume of 448,795. The stock has a fifty day moving average price of $9.01 and a 200 day moving average price of $10.47. The firm has a market capitalization of $626.87 million, a price-to-earnings ratio of -12.54 and a beta of 0.92. Bioventus Inc. has a one year low of $3.90 and a one year high of $14.38. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

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.