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In a recent transaction disclosed by Bioventus Inc. (NASDAQ:BVS), a $652 million medical device company, Katrina J. Church, the company’s Senior Vice President and Chief Compliance Officer, sold 1,537 shares of Class A Common Stock. The transaction, dated February 18, 2025, was executed at a weighted average price of $10.19 per share, amounting to a total sale value of $15,662. According to InvestingPro data, the stock has delivered an impressive 126% return over the past year, with the company maintaining a GOOD financial health score.
The sale was made to cover taxes related to the vesting of restricted stock units, as part of a pre-established trading plan under Rule 10b5-1, adopted on March 15, 2024. Following this transaction, Church holds 50,102 shares directly. The shares were sold in a series of transactions with prices ranging from $9.74 to $10.61. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Bioventus Inc has finalized the sale of its Advanced Rehab business to Accelmed Partners. This divestiture aligns with Bioventus’ projected timeline, originally targeting completion between the end of 2024 and early 2025. The Advanced Rehab segment, which includes devices for recovering leg or hand function, was acquired through Bioventus’ purchase of Bioness in 2021. Canaccord Genuity has reaffirmed its Buy rating and $15.00 price target for Bioventus, viewing the sale as a strategic move that allows the company to focus on its core areas like Ultrasonics and international growth. The firm suggests that this transaction could improve Bioventus’ margins and reduce its debt. Canaccord Genuity also notes that the divestiture may free up resources and time for further development in areas such as peripheral nerve stimulation (PNS). Although the firm has not yet adjusted its financial estimates, it remains optimistic about Bioventus’ future prospects following these developments.
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