Cetera Investment Advisers Sells 1,805 Shares of Bioventus Inc. (NYSE:BVS)

Cetera Investment Advisers lowered its position in Bioventus Inc. (NYSE:BVS) by 7.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,000 shares of the company’s stock after selling 1,805 shares during the period. Cetera Investment Advisers’ holdings in Bioventus were worth $220,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in Bioventus in the 4th quarter worth $402,000. Principal Financial Group Inc. lifted its stake in Bioventus by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 19,228 shares of the company’s stock worth $202,000 after purchasing an additional 1,652 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Bioventus by 37.4% in the 4th quarter. Bank of New York Mellon Corp now owns 125,055 shares of the company’s stock worth $1,313,000 after purchasing an additional 34,036 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Bioventus in the 4th quarter worth $38,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bioventus by 11.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 435,344 shares of the company’s stock worth $4,571,000 after purchasing an additional 45,182 shares in the last quarter. Institutional investors own 62.94% of the company’s stock.

Bioventus Stock Down 0.3%

Shares of NYSE BVS opened at $6.54 on Monday. The firm’s 50-day moving average price is $7.47 and its 200-day moving average price is $9.44. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $537.22 million, a price-to-earnings ratio of -10.72 and a beta of 0.95. Bioventus Inc. has a 12-month low of $5.28 and a 12-month high of $14.38.

Insider Activity

In related news, CFO Mark Leonard Singleton sold 5,479 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $9.79, for a total value of $53,639.41. Following the sale, the chief financial officer now directly owns 131,963 shares of the company’s stock, valued at $1,291,917.77. This represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 13,330 shares of company stock worth $115,291. 32.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BVS. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of Bioventus in a research note on Monday, March 17th. Craig Hallum set a $15.00 price target on shares of Bioventus and gave the stock a “buy” rating in a research note on Wednesday, May 7th.

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.