Principal Financial Group Inc. Purchases New Stake in Bioventus Inc. (NYSE:BVS)

Principal Financial Group Inc. acquired a new position in shares of Bioventus Inc. (NYSE:BVS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,576 shares of the company’s stock, valued at approximately $210,000.

Other large investors also recently made changes to their positions in the company. Squarepoint Ops LLC boosted its holdings 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 acquiring an additional 3,170 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Bioventus during the first quarter worth $28,000. CWM LLC purchased a new position in shares of Bioventus in the third quarter valued at $89,000. Lazard Asset Management LLC acquired a new stake in Bioventus during the 1st quarter valued at $40,000. Finally, HB Wealth Management LLC acquired a new stake in Bioventus during the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

Bioventus Trading Down 1.8 %

NYSE BVS opened at $11.50 on Tuesday. The company’s fifty day moving average price is $12.06 and its two-hundred day moving average price is $9.02. The company has a market capitalization of $933.23 million, a price-to-earnings ratio of -18.85 and a beta of 0.88. Bioventus Inc. has a 12 month low of $3.80 and a 12 month 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Bioventus had a positive return on equity of 15.61% and a negative net margin of 7.11%. The business had revenue of $138.96 million during the quarter, compared to the consensus estimate of $132.57 million. During the same period last year, the firm earned $0.05 earnings per share. As a group, research analysts predict that Bioventus Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Craig Hallum increased their price target on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

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.