Bioventus (NYSE:BVS) Stock Price Down 1.1% – What’s Next?
by Mitch Edgeman · The Markets DailyBioventus Inc. (NYSE:BVS – Get Free Report)’s share price traded down 1.1% on Tuesday . The stock traded as low as $7.34 and last traded at $7.45. 291,511 shares were traded during trading, a decline of 21% from the average session volume of 369,373 shares. The stock had previously closed at $7.53.
Bioventus Price Performance
The stock has a market cap of $615.76 million, a price-to-earnings ratio of -12.20 and a beta of 0.79. 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’s 50-day moving average is $7.33 and its 200-day moving average is $7.04.
Insiders Place Their Bets
In related news, Director Michelle Mcmurry-Heath sold 17,701 shares of Bioventus stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $7.42, for a total transaction of $131,341.42. Following the completion of the transaction, the director directly owned 56,997 shares of the company’s stock, valued at $422,917.74. This trade represents a 23.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Guy P. Nohra sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $7.57, for a total transaction of $75,700.00. Following the completion of the transaction, the director owned 116,610 shares in the company, valued at approximately $882,737.70. This trade represents a 7.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 33.00% of the company’s stock.
Institutional Trading of Bioventus
A number of hedge funds and other institutional investors have recently made changes to their positions in BVS. Russell Investments Group Ltd. lifted its position in Bioventus by 23,761.5% during the 1st quarter. Russell Investments Group Ltd. now owns 6,204 shares of the company’s stock worth $57,000 after buying an additional 6,178 shares in the last quarter. State of Wyoming lifted its position in shares of Bioventus by 32.9% during the first quarter. State of Wyoming now owns 26,942 shares of the company’s stock worth $247,000 after purchasing an additional 6,673 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Bioventus by 10.3% during the first quarter. Panagora Asset Management Inc. now owns 278,305 shares of the company’s stock valued at $2,546,000 after purchasing an additional 25,888 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Bioventus by 314.0% in the first quarter. Cubist Systematic Strategies LLC now owns 153,489 shares of the company’s stock valued at $1,404,000 after purchasing an additional 116,418 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Bioventus in the 1st quarter worth approximately $120,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.
About Bioventus
Bioventus, Inc (NYSE: BVS) is a global medical technology company focused on providing innovative therapeutic solutions to enhance patient care in musculoskeletal health. The company develops, manufactures, and markets a range of products designed to promote bone healing, support joint health, and relieve pain non-invasively. Bioventus leverages biologic and biophysical approaches to deliver effective therapies that aim to accelerate recovery times and improve overall patient outcomes.
Bioventus’s product portfolio includes its flagship EXOGEN® Bone Healing System, an ultrasound-based device indicated for non-union fractures and fracture healing enhancement.