Arizona State Retirement System Acquires New Shares in Bioventus Inc. (NYSE:BVS)

Arizona State Retirement System acquired a new stake in shares of Bioventus Inc. (NYSE:BVS) in the fourth quarter, HoldingsChannel reports. The fund acquired 10,396 shares of the company’s stock, valued at approximately $109,000.

A number of other institutional investors have also recently bought and sold shares of BVS. Royce & Associates LP acquired a new stake in Bioventus during the third quarter valued at $8,337,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Bioventus in the third quarter worth about $4,515,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Bioventus in the third quarter worth about $3,092,000. State Street Corp lifted its position in shares of Bioventus by 38.8% in the third quarter. State Street Corp now owns 676,501 shares of the company’s stock worth $8,084,000 after buying an additional 189,216 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Bioventus by 228.3% in the third quarter. JPMorgan Chase & Co. now owns 253,740 shares of the company’s stock worth $3,032,000 after buying an additional 176,442 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Anthony D’adamio sold 4,380 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.19, for a total transaction of $44,632.20. Following the transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $26,693.55. Following the transaction, the senior vice president now owns 47,264 shares in the company, valued at $497,689.92. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,932 shares of company stock valued at $512,511. Insiders own 32.90% of the company’s stock.

Bioventus Price Performance

NYSE BVS opened at $9.61 on Monday. Bioventus Inc. has a twelve month low of $3.90 and a twelve month high of $14.38. 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 stock has a market capitalization of $779.90 million, a PE ratio of -15.75 and a beta of 0.86. The stock has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $11.02.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus 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.