Insider Selling: Bioventus Inc. (NYSE:BVS) CEO Sells $261,952.60 in Stock

Bioventus Inc. (NYSE:BVS) CEO Robert E. Claypoole sold 28,786 shares of Bioventus stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the transaction, the chief executive officer now directly owns 64,964 shares of the company’s stock, valued at approximately $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bioventus Stock Up 4.1 %

Bioventus stock opened at $10.11 on Friday. The stock’s fifty day moving average is $10.99 and its two-hundred day moving average is $10.18. The stock has a market cap of $820.43 million, a PE ratio of -16.57 and a beta of 0.85. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38. 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 (NYSE:BVS) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $138.96 million during the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, sell-side analysts expect that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Canaccord Genuity Group increased their price objective on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th. Finally, Craig Hallum upped their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Royce & Associates LP acquired a new position in Bioventus in the third quarter valued at $8,337,000. Renaissance Technologies LLC boosted its position in shares of Bioventus by 401.5% in the 2nd quarter. Renaissance Technologies LLC now owns 503,175 shares of the company’s stock valued at $2,893,000 after purchasing an additional 402,841 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Bioventus during the 3rd quarter worth approximately $4,515,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bioventus in the third quarter valued at approximately $3,092,000. Finally, State Street Corp lifted its stake in Bioventus by 38.8% in the third quarter. State Street Corp now owns 676,501 shares of the company’s stock valued at $8,084,000 after buying an additional 189,216 shares during the last quarter. 62.94% of the stock is owned by hedge funds and other institutional investors.

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.