Here’s Why Bioventus (BVS) Declined in Q4
Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell Microcap Index which rose 4.72%. Stock selection in industrials, consumer discretionary, information technology, and consumer staples contributed to the strategy’s performance in the quarter while stock selections in energy detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Value Strategy highlighted stocks like Bioventus Inc. (NASDAQ:BVS) in the Q4 2022 investor letter. Headquartered in Durham, North Carolina, Bioventus Inc. (NASDAQ:BVS) is a medical device company. On March 29, 2023, Bioventus Inc. (NASDAQ:BVS) stock closed at $1.2100 per share. One-month return of Bioventus Inc. (NASDAQ:BVS) was -49.79%, and its shares lost 91.42% of their value over the last 52 weeks. Bioventus Inc. (NASDAQ:BVS) has a market capitalization of $74.962 million.
Wasatch Micro Cap Value Strategy made the following comment about Bioventus Inc. (NASDAQ:BVS) in its Q4 2022 investor letter:
“Another significant detractor was Bioventus Inc. (NASDAQ:BVS), a medical-device company that offers diagnostic systems and equipment to facilitate bone healing and osteoarthritis pain treatments. The company’s earnings disappointed investors. Moreover, because Bioventus carries significant debt and operates in a highly competitive environment, we expect that the financial outlook is unlikely to improve in the near term and that the next round of financing will be dilutive to existing shareholders. As such, we chose to exit our position during the quarter.”
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Bioventus Inc. (NASDAQ:BVS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Bioventus Inc. (NASDAQ:BVS) at the end of the fourth quarter which was 8 in the previous quarter.
We discussed Bioventus Inc. (NASDAQ:BVS) in another article and shared the list of largest orthopedic companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
