KLP Kapitalforvaltning AS Takes Position in Bioventus Inc. (NYSE:BVS)

KLP Kapitalforvaltning AS purchased a new position in shares of Bioventus Inc. (NYSE:BVS) in the fourth quarter, Holdings Channel.com reports. The fund purchased 7,100 shares of the company’s stock, valued at approximately $75,000.

Several other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in shares of Bioventus in the 4th quarter worth approximately $38,000. Quantbot Technologies LP purchased a new stake in Bioventus in the fourth quarter valued at approximately $103,000. Arizona State Retirement System acquired a new position in Bioventus during the fourth quarter worth $109,000. EP Wealth Advisors LLC acquired a new position in Bioventus during the third quarter worth $144,000. Finally, HighTower Advisors LLC boosted its position in shares of Bioventus by 11.3% during the fourth quarter. HighTower Advisors LLC now owns 13,617 shares of the company’s stock worth $143,000 after buying an additional 1,380 shares during the period. Hedge funds and other institutional investors own 62.94% of the company’s stock.

Wall Street Analyst Weigh In

BVS has been the topic of several research reports. JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $13.00 in a research note on Tuesday, December 17th. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of Bioventus in a research note on Monday, March 17th.

Insider Buying and Selling

In other Bioventus news, CEO Robert E. Claypoole sold 28,786 shares of Bioventus stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction 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 Securities & Exchange Commission, which is available at this link. Also, CFO Mark Leonard Singleton sold 6,498 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total value of $66,214.62. Following the completion of the transaction, the chief financial officer now owns 118,817 shares in the company, valued at approximately $1,210,745.23. The trade was a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,161 shares of company stock valued at $436,364 in the last three months. 32.90% of the stock is owned by corporate insiders.

Bioventus Stock Performance

NYSE:BVS opened at $7.48 on Friday. Bioventus Inc. has a 52 week low of $3.90 and a 52 week high of $14.38. The company has a fifty day simple moving average of $9.59 and a two-hundred day simple moving average of $10.73. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The company has a market cap of $612.94 million, a price-to-earnings ratio of -12.26 and a beta of 0.92.

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.