Allspring Global Investments Holdings LLC increased its holdings in Bioventus Inc. (NYSE:BVS – Get Rating) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,170 shares of the company’s stock after purchasing an additional 6,651 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bioventus were worth $666,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Bioventus by 1,845.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,140 shares of the company’s stock valued at $30,000 after acquiring an additional 2,030 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Bioventus by 123.9% during the first quarter. Lazard Asset Management LLC now owns 3,132 shares of the company’s stock valued at $44,000 after acquiring an additional 1,733 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in Bioventus in the 2nd quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Bioventus by 255.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,593 shares of the company’s stock worth $52,000 after purchasing an additional 5,454 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Bioventus during the 1st quarter valued at approximately $60,000. Institutional investors own 46.88% of the company’s stock.
Analyst Ratings Changes
A number of analysts have issued reports on BVS shares. Canaccord Genuity Group downgraded Bioventus from a “buy” rating to a “hold” rating and cut their target price for the stock from $18.00 to $6.00 in a research note on Wednesday, November 9th. Morgan Stanley dropped their target price on Bioventus from $11.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Canaccord Genuity Group downgraded Bioventus from a “buy” rating to a “hold” rating and dropped their target price for the company from $18.00 to $6.00 in a research report on Wednesday, November 9th. Craig Hallum downgraded Bioventus from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research report on Tuesday, November 22nd. Finally, JPMorgan Chase & Co. downgraded Bioventus from an “overweight” rating to an “underweight” rating in a research report on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.80.
Bioventus Stock Performance
Bioventus (NYSE:BVS – Get Rating) last posted its earnings results on Monday, November 21st. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.08). The business had revenue of $128.66 million for the quarter, compared to analysts’ expectations of $141.77 million. Bioventus had a positive return on equity of 7.87% and a negative net margin of 24.61%. On average, analysts predict that Bioventus Inc. will post 0.24 earnings per share for the current fiscal year.
Bioventus Inc a medical device company, focuses on developing and commercializing clinical 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 joint pain injection therapies, as well as peripheral nerve stimulation products.
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