Connor Clark & Lunn Investment Management Ltd. Sells 62,577 Shares of Bioventus Inc. (NYSE:BVS)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Bioventus Inc. (NYSE:BVS) by 24.2% during the fourth quarter, Holdings Channel reports. The firm owned 196,179 shares of the company’s stock after selling 62,577 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bioventus were worth $2,060,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new stake in Bioventus in the 4th quarter valued at $38,000. Virtus Fund Advisers LLC bought a new stake in shares of Bioventus in the 3rd quarter worth $42,000. Quest Partners LLC purchased a new stake in shares of Bioventus in the third quarter valued at about $51,000. Quarry LP bought a new position in shares of Bioventus during the third quarter valued at about $59,000. Finally, Arizona State Retirement System purchased a new position in Bioventus during the fourth quarter worth about $109,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Bioventus Price Performance

Bioventus stock opened at $9.56 on Wednesday. The business’s 50 day simple moving average is $10.08 and its 200 day simple moving average is $11.01. Bioventus Inc. has a 12 month low of $3.90 and a 12 month high of $14.38. The company has a market cap of $775.84 million, a price-to-earnings ratio of -15.67 and a beta of 0.86. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

Insider Buying and Selling at Bioventus

In other news, CFO Mark Leonard Singleton sold 10,733 shares of Bioventus stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the transaction, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anthony D’adamio sold 4,380 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total transaction of $44,632.20. Following the sale, the senior vice president now owns 118,178 shares in the company, valued at $1,204,233.82. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,950 shares of company stock worth $522,437 over the last ninety days. 32.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BVS has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of Bioventus in a research report on Monday. JPMorgan Chase & Co. upgraded shares of Bioventus from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $13.00 in a report on Tuesday, December 17th.

About Bioventus

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.