Plato Investment Management Ltd Takes Position in Bioventus Inc. (NYSE:BVS)

Plato Investment Management Ltd acquired a new stake in shares of Bioventus Inc. (NYSE:BVS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,620 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors have also recently modified their holdings of BVS. Virtus Fund Advisers LLC bought a new position in shares of Bioventus during the 3rd quarter valued at about $42,000. Quest Partners LLC purchased a new stake in Bioventus during the 3rd quarter valued at about $51,000. Quarry LP purchased a new stake in Bioventus during the 3rd quarter valued at about $59,000. Covestor Ltd purchased a new stake in Bioventus during the 3rd quarter valued at about $69,000. Finally, EP Wealth Advisors LLC purchased a new stake in Bioventus during the 3rd quarter valued at about $144,000. 62.94% of the stock is currently owned by institutional investors.

Bioventus Trading Up 1.0 %

NYSE BVS opened at $10.19 on Thursday. Bioventus Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $14.38. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.99 and a current ratio of 1.41. The stock has a 50 day simple moving average of $10.22 and a two-hundred day simple moving average of $10.99. The stock has a market cap of $826.97 million, a P/E ratio of -16.70 and a beta of 0.85.

Insiders Place Their Bets

In other news, CFO Mark Leonard Singleton sold 10,733 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the transaction, the chief financial officer now owns 105,162 shares in the company, valued at $1,107,355.86. This trade represents a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert E. Claypoole sold 28,786 shares of Bioventus stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $261,952.60. Following the sale, the chief executive officer now owns 64,964 shares in the company, valued at $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,932 shares of company stock worth $512,511. 32.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Bioventus from an “underweight” rating to a “neutral” rating and increased their target price for the company from $12.00 to $13.00 in a report on Tuesday, December 17th. Canaccord Genuity Group increased their target price on Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

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.