Sheets Smith Wealth Management Has $645,000 Position in Bioventus Inc. (NYSE:BVS)

Sheets Smith Wealth Management cut its stake in shares of Bioventus Inc. (NYSE:BVS) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,386 shares of the company’s stock after selling 1,150 shares during the period. Sheets Smith Wealth Management’s holdings in Bioventus were worth $645,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its position in Bioventus by 13.8% in the 2nd quarter. Squarepoint Ops LLC now owns 26,171 shares of the company’s stock worth $150,000 after purchasing an additional 3,170 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Bioventus in the 3rd quarter valued at approximately $42,000. Quest Partners LLC bought a new stake in shares of Bioventus in the 3rd quarter valued at approximately $51,000. Quarry LP acquired a new position in Bioventus in the third quarter worth approximately $59,000. Finally, Covestor Ltd bought a new position in Bioventus during the third quarter valued at approximately $69,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Insider Buying and Selling at Bioventus

In other Bioventus news, SVP Katrina J. Church sold 2,535 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now directly owns 47,264 shares of the company’s stock, valued at $497,689.92. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert E. Claypoole sold 28,786 shares of the business’s 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 transaction, the chief executive officer now owns 64,964 shares in the company, valued at approximately $591,172.40. The trade was a 30.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,054 shares of company stock valued at $401,665 in the last 90 days. 32.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BVS has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Craig Hallum upped their price objective on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Price Performance

Shares of Bioventus stock opened at $10.09 on Thursday. 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 firm has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $10.33. The stock has a market capitalization of $818.85 million, a price-to-earnings ratio of -16.54 and a beta of 0.85. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38.

Bioventus (NYSE:BVS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $138.96 million during the quarter, compared to analysts’ expectations of $132.57 million. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. During the same period in the prior year, the company earned $0.05 earnings per share. On average, sell-side analysts expect that Bioventus Inc. will post 0.41 earnings per share for the current year.

Bioventus Company 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.