Kent Lake Capital LLC Reduces Position in Bioventus Inc. (NYSE:BVS)

Kent Lake Capital LLC lessened its position in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 48.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,880 shares of the company's stock after selling 502,288 shares during the quarter. Kent Lake Capital LLC owned about 0.68% of Bioventus worth $2,808,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BVS. Raymond James & Associates lifted its stake in shares of Bioventus by 11.7% in the 1st quarter. Raymond James & Associates now owns 91,397 shares of the company's stock valued at $1,289,000 after purchasing an additional 9,565 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bioventus by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 153,707 shares of the company's stock valued at $2,166,000 after purchasing an additional 4,382 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Bioventus by 15.5% in the 1st quarter. HighTower Advisors LLC now owns 14,965 shares of the company's stock valued at $211,000 after purchasing an additional 2,007 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bioventus by 1,845.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,140 shares of the company's stock worth $30,000 after acquiring an additional 2,030 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Bioventus by 57.4% during the 1st quarter. MetLife Investment Management LLC now owns 18,975 shares of the company's stock worth $268,000 after acquiring an additional 6,917 shares during the last quarter. 62.94% of the stock is owned by institutional investors.

Insider Transactions at Bioventus

In related news, CFO Mark Leonard Singleton sold 5,541 shares of Bioventus stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $5.39, for a total value of $29,865.99. Following the completion of the sale, the chief financial officer now directly owns 25,665 shares in the company, valued at $138,334.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.10% of the company's stock.

Bioventus Trading Up 2.6 %

Shares of BVS stock traded up $0.13 on Friday, reaching $5.06. 110,857 shares of the company's stock were exchanged, compared to its average volume of 186,842. Bioventus Inc. has a 52 week low of $0.86 and a 52 week high of $6.08. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $400.60 million, a PE ratio of -2.01 and a beta of 0.50. The company's fifty day simple moving average is $4.92 and its 200 day simple moving average is $4.38.

Bioventus (NYSE:BVS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. Bioventus had a positive return on equity of 2.25% and a negative net margin of 30.49%. The firm had revenue of $135.42 million during the quarter, compared to analyst estimates of $124.84 million. As a group, analysts forecast that Bioventus Inc. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price target on Bioventus from $6.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th.

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.