Principal Financial Group Inc. Takes Position in Bioventus Inc. (NYSE:BVS)

Principal Financial Group Inc. purchased a new position in shares of Bioventus Inc. (NYSE:BVS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,576 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also made changes to their positions in the company. Virtus Fund Advisers LLC acquired a new position in Bioventus during the third quarter valued at approximately $42,000. Quest Partners LLC acquired a new position in shares of Bioventus during the 3rd quarter worth $51,000. Quarry LP acquired a new position in shares of Bioventus during the 3rd quarter worth $59,000. Covestor Ltd bought a new stake in shares of Bioventus during the 3rd quarter worth $69,000. Finally, CWM LLC acquired a new stake in Bioventus in the third quarter valued at about $89,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Analyst Ratings Changes

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

Bioventus Stock Performance

Bioventus stock opened at $9.83 on Tuesday. The business has a 50 day moving average of $11.49 and a 200-day moving average of $10.03. The company has a market capitalization of $797.75 million, a P/E ratio of -16.11 and a beta of 0.85. Bioventus Inc. has a 1 year low of $3.90 and a 1 year high of $14.38. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. During the same period last year, the company earned $0.05 earnings per share. On average, equities research analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Bioventus

In related news, SVP Katrina J. Church sold 2,535 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the transaction, the senior vice president now owns 47,264 shares in the company, valued at $497,689.92. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Leonard Singleton sold 10,733 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $113,018.49. Following the completion of the sale, the chief financial officer now owns 105,162 shares of the company’s stock, valued at approximately $1,107,355.86. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.

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.