Sheets Smith Investment Management Buys Shares of 142,723 Bioventus Inc. (NYSE:BVS)

Sheets Smith Investment Management acquired a new stake in shares of Bioventus Inc. (NYSE:BVS) during the fourth quarter, HoldingsChannel reports. The fund acquired 142,723 shares of the company’s stock, valued at approximately $1,499,000. Bioventus makes up approximately 1.3% of Sheets Smith Investment Management’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds have also recently made changes to their positions in BVS. Vanguard Group Inc. grew its position in Bioventus by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock worth $25,852,000 after acquiring an additional 388,174 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Bioventus in the 4th quarter worth about $75,000. American Century Companies Inc. boosted its position in Bioventus by 38.7% during the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company’s stock valued at $9,289,000 after acquiring an additional 246,645 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Bioventus in the fourth quarter worth $103,000. Finally, Summit Global Investments purchased a new stake in shares of Bioventus in the 4th quarter worth about $553,000. 62.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Anthony D’adamio sold 4,380 shares of Bioventus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total transaction of $44,632.20. Following the completion of the sale, the senior vice president now owns 118,178 shares in the company, valued at $1,204,233.82. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $261,952.60. Following the sale, the chief executive officer now owns 64,964 shares of the company’s stock, valued at $591,172.40. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,682 shares of company stock valued at $382,725 in the last three months. Corporate insiders own 32.90% of the company’s stock.

Bioventus Stock Performance

Shares of NYSE BVS opened at $9.65 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The company has a market cap of $783.15 million, a P/E ratio of -15.82 and a beta of 0.86. The firm’s fifty day moving average is $10.10 and its two-hundred day moving average is $11.01. Bioventus Inc. has a 52-week low of $3.90 and a 52-week high of $14.38.

Analyst Ratings Changes

BVS has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 target price on shares of Bioventus in a report on Monday, March 17th.

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.