Allspring Global Investments Holdings LLC Boosts Holdings in Bioventus Inc. (NYSE:BVS)

Allspring Global Investments Holdings LLC increased its holdings in Bioventus Inc. (NYSE:BVSGet Rating) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,170 shares of the company’s stock after buying an additional 6,651 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bioventus were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Bioventus by 11.7% during the first quarter. Raymond James & Associates now owns 91,397 shares of the company’s stock valued at $1,289,000 after purchasing an additional 9,565 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Bioventus by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 153,707 shares of the company’s stock valued at $2,166,000 after purchasing an additional 4,382 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Bioventus by 15.5% during the first quarter. HighTower Advisors LLC now owns 14,965 shares of the company’s stock valued at $211,000 after purchasing an additional 2,007 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 2,030 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Bioventus by 57.4% in the first quarter. MetLife Investment Management LLC now owns 18,975 shares of the company’s stock worth $268,000 after buying an additional 6,917 shares in the last quarter. Hedge funds and other institutional investors own 46.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Bioventus from an “overweight” rating to an “underweight” rating in a report on Wednesday, November 9th. Canaccord Genuity Group downgraded shares of Bioventus from a “buy” rating to a “hold” rating and lowered their target price for the stock from $18.00 to $6.00 in a report on Wednesday, November 9th. Canaccord Genuity Group downgraded shares of Bioventus from a “buy” rating to a “hold” rating and lowered their target price for the stock from $18.00 to $6.00 in a report on Wednesday, November 9th. Craig Hallum downgraded shares of Bioventus from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a report on Tuesday, November 22nd. Finally, Morgan Stanley reduced their price target on shares of Bioventus from $11.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. One investment 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.80.

Bioventus Stock Up 1.4 %

BVS stock opened at $2.25 on Monday. The firm has a market cap of $174.26 million, a PE ratio of -1.09 and a beta of 0.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.67 and a current ratio of 0.94. The firm’s fifty day moving average is $2.44 and its 200 day moving average is $5.67. Bioventus Inc. has a one year low of $1.65 and a one year high of $15.10.

Bioventus (NYSE:BVSGet Rating) last posted its quarterly 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). Bioventus had a positive return on equity of 7.87% and a negative net margin of 24.61%. The business had revenue of $128.66 million during the quarter, compared to analysts’ expectations of $141.77 million. On average, research analysts forecast that Bioventus Inc. will post 0.24 EPS for the current year.

About Bioventus

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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.

See Also

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Institutional Ownership by Quarter for Bioventus (NYSE:BVS)

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