Harbor Capital Advisors Inc. Purchases New Shares in Bioventus Inc. (NYSE:BVS)

Harbor Capital Advisors Inc. purchased a new stake in Bioventus Inc. (NYSE:BVS) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,867 shares of the company’s stock, valued at approximately $200,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Bioventus by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 2,462,081 shares of the company’s stock worth $25,852,000 after buying an additional 388,174 shares during the last quarter. Driehaus Capital Management LLC raised its position in Bioventus by 33.7% during the 4th quarter. Driehaus Capital Management LLC now owns 1,119,855 shares of the company’s stock worth $11,758,000 after buying an additional 282,341 shares during the last quarter. American Century Companies Inc. raised its position in Bioventus by 38.7% during the 4th quarter. American Century Companies Inc. now owns 884,673 shares of the company’s stock worth $9,289,000 after buying an additional 246,645 shares during the last quarter. Nuveen Asset Management LLC raised its position in Bioventus by 20.9% during the 4th quarter. Nuveen Asset Management LLC now owns 782,137 shares of the company’s stock worth $8,212,000 after buying an additional 135,236 shares during the last quarter. Finally, Royce & Associates LP raised its position in Bioventus by 5.0% during the 4th quarter. Royce & Associates LP now owns 732,236 shares of the company’s stock worth $7,688,000 after buying an additional 34,540 shares during the last quarter. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BVS shares. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of Bioventus in a research report 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.

Insider Transactions at Bioventus

In related news, CFO Mark Leonard Singleton sold 3,875 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $7.57, for a total value of $29,333.75. Following the sale, the chief financial officer now directly owns 141,088 shares of the company’s stock, valued at approximately $1,068,036.16. This represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 12,312 shares of company stock valued at $105,365 in the last ninety days. 33.00% of the stock is currently owned by company insiders.

Bioventus Stock Performance

NYSE:BVS opened at $6.62 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. Bioventus Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $14.38. The stock has a market cap of $543.79 million, a PE ratio of -10.85 and a beta of 0.86. The firm’s fifty day simple moving average is $7.03 and its 200-day simple moving average is $9.09.

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.