Virtus Fund Advisers LLC Invests $42,000 in Bioventus Inc. (NYSE:BVS)

Virtus Fund Advisers LLC acquired a new stake in shares of Bioventus Inc. (NYSE:BVS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,525 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. purchased a new position in shares of Bioventus during the third quarter valued at approximately $217,000. State Street Corp grew 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 valued at $8,084,000 after purchasing an additional 189,216 shares during the period. Quarry LP acquired a new position in Bioventus in the third quarter valued at $59,000. Point72 Asset Management L.P. acquired a new stake in Bioventus in the 3rd quarter worth about $788,000. Finally, Centiva Capital LP purchased a new stake in Bioventus in the 3rd quarter valued at about $232,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum boosted their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Bioventus Price Performance

BVS opened at $11.64 on Friday. The company has a 50 day moving average of $12.12 and a two-hundred day moving average of $9.29. Bioventus Inc. has a 52-week low of $3.90 and a 52-week high of $14.38. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The company has a market cap of $944.64 million, a P/E ratio of -19.08 and a beta of 0.79.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The company had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same period last year, the company posted $0.05 earnings per share. On average, analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current year.

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.