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

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Bioventus Inc. (NYSE:BVS) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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. owned 0.24% of Bioventus worth $2,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Bioventus during the 4th quarter worth about $38,000. Virtus Fund Advisers LLC bought a new position in shares of Bioventus during the third quarter worth about $42,000. Quest Partners LLC acquired a new position in shares of Bioventus in the third quarter worth approximately $51,000. Quarry LP bought a new stake in Bioventus in the third quarter valued at approximately $59,000. Finally, Arizona State Retirement System acquired a new stake in Bioventus during the 4th quarter valued at approximately $109,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Bioventus Price Performance

Shares of BVS opened at $9.56 on Wednesday. The firm has a market cap of $775.84 million, a PE ratio of -15.67 and a beta of 0.86. Bioventus Inc. has a 52-week low of $3.90 and a 52-week high of $14.38. The business’s 50 day moving average price is $10.08 and its two-hundred day moving average price is $11.01. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41.

Insider Activity at Bioventus

In related news, CEO Robert E. Claypoole sold 28,786 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $261,952.60. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katrina J. Church sold 2,535 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the transaction, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,950 shares of company stock worth $522,437 in the last quarter. Company insiders own 32.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a research note 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.

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.