Two Sigma Investments LP Trims Stake in Bioventus Inc. (NYSE:BVS)

Two Sigma Investments LP reduced its holdings in shares of Bioventus Inc. (NYSE:BVS) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,560 shares of the company’s stock after selling 7,197 shares during the period. Two Sigma Investments LP’s holdings in Bioventus were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank purchased a new stake in Bioventus during the fourth quarter valued at approximately $175,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Bioventus in the fourth quarter worth $111,000. ProShare Advisors LLC purchased a new stake in shares of Bioventus in the fourth quarter worth $113,000. Nuveen Asset Management LLC increased its stake in shares of Bioventus by 20.9% in the fourth quarter. Nuveen Asset Management LLC now owns 782,137 shares of the company’s stock worth $8,212,000 after purchasing an additional 135,236 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Bioventus in the fourth quarter worth $181,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

Bioventus Stock Performance

Shares of NYSE BVS opened at $6.86 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The firm has a fifty day moving average price of $7.11 and a 200-day moving average price of $9.22. Bioventus Inc. has a 1 year low of $5.28 and a 1 year high of $14.38. The stock has a market cap of $563.51 million, a PE ratio of -11.25 and a beta of 0.86.

Insider Buying and Selling

In related news, CFO Mark Leonard Singleton sold 3,875 shares of the company’s stock in a transaction on Friday, April 11th. The shares were 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 owns 141,088 shares in the company, valued at approximately $1,068,036.16. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 13,330 shares of company stock worth $115,291. 32.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BVS has been the subject of a number of analyst reports. Craig Hallum set a $15.00 price objective on shares of Bioventus and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of Bioventus in a research note on Monday, March 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.