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Anthony D’Adamio, Senior Vice President and General Counsel at Bioventus Inc. (NASDAQ:BVS), recently sold 4,380 shares of the company’s Class A Common Stock. The shares were sold at a weighted average price of $10.19 per share, resulting in a total transaction value of $44,632. According to InvestingPro data, BVS stock has delivered an impressive 126.65% return over the past year, with the company currently valued at approximately $652 million. This sale was part of a standing 10b5-1 plan adopted in March 2024 and was executed to cover taxes upon the vesting of restricted stock units. Following this transaction, D’Adamio holds 118,178 shares of Bioventus. The sale was executed alongside multiple transactions involving shares of various employees at prices ranging from $9.74 to $10.61. InvestingPro analysis indicates the stock is trading near its Fair Value, with analysts expecting profitability this year despite current negative earnings. Get access to 6 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.
In other recent news, Bioventus Inc has finalized the divestiture of its Advanced Rehab business to Accelmed Partners, aligning with its projected timeline for completion by the end of 2024 to early 2025. This segment, which includes devices for recovery of leg or hand function, was initially acquired through the purchase of Bioness in 2021. The company will retain the peripheral nerve stim business within its Pain Treatments portfolio. Canaccord Genuity has reaffirmed its Buy rating for Bioventus, maintaining a price target of $15.00. The divestiture is seen as a strategic move to allow the company to focus on its Ultrasonics and international growth areas. Canaccord Genuity views this as a positive development that may improve Bioventus’ margins and reduce debt. The firm has yet to adjust its financial models but remains optimistic about the company’s prospects following this transaction.
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