Cornercap Investment Counsel Inc. Acquires New Stake in Bioventus Inc. (NYSE:BVS)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Bioventus Inc. (NYSE:BVS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,191 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds have also made changes to their positions in BVS. SG Americas Securities LLC acquired a new position in shares of Bioventus during the first quarter valued at approximately $66,000. Acadian Asset Management LLC acquired a new position in Bioventus in the first quarter worth approximately $28,000. Hillsdale Investment Management Inc. grew its position in Bioventus by 26.1% in the first quarter. Hillsdale Investment Management Inc. now owns 34,742 shares of the company’s stock worth $181,000 after buying an additional 7,200 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Bioventus in the first quarter worth approximately $40,000. Finally, Kennedy Capital Management LLC grew its position in Bioventus by 66.8% in the first quarter. Kennedy Capital Management LLC now owns 120,134 shares of the company’s stock worth $625,000 after buying an additional 48,111 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

Bioventus Trading Up 1.0 %

Shares of NYSE:BVS opened at $11.24 on Monday. The firm has a fifty day moving average of $11.97 and a two-hundred day moving average of $8.73. The firm has a market capitalization of $912.13 million, a P/E ratio of -18.43 and a beta of 0.88. Bioventus Inc. has a 12-month low of $3.64 and a 12-month high of $14.38. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85.

Bioventus (NYSE:BVS) last issued its 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. Bioventus had a negative net margin of 7.11% and a positive return on equity of 15.61%. The company had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts expect that Bioventus Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.