Convergence Investment Partners LLC Takes Position in Bioverativ Inc (BIVV)

Convergence Investment Partners LLC bought a new position in shares of Bioverativ Inc (NASDAQ:BIVV) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 23,330 shares of the biotechnology company’s stock, valued at approximately $1,331,000.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in Bioverativ during the 3rd quarter worth approximately $137,000. TCI Wealth Advisors Inc. bought a new position in Bioverativ during the 3rd quarter worth approximately $186,000. Canada Pension Plan Investment Board bought a new position in Bioverativ during the 3rd quarter worth approximately $194,000. ACG Wealth bought a new position in Bioverativ during the 3rd quarter worth approximately $205,000. Finally, Pinnacle Associates Ltd. bought a new position in Bioverativ during the 3rd quarter worth approximately $217,000. 95.23% of the stock is currently owned by institutional investors.

Shares of Bioverativ Inc (NASDAQ:BIVV) opened at $50.68 on Thursday. Bioverativ Inc has a 1 year low of $40.00 and a 1 year high of $64.41.

Bioverativ (NASDAQ:BIVV) last posted its earnings results on Thursday, October 26th. The biotechnology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.55 by $0.25. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $285.45 million. Bioverativ’s quarterly revenue was up 27.2% on a year-over-year basis. analysts forecast that Bioverativ Inc will post 2.45 EPS for the current fiscal year.

A number of research firms have commented on BIVV. Morgan Stanley reaffirmed an “underweight” rating and set a $47.00 target price (up previously from $45.00) on shares of Bioverativ in a report on Friday, October 6th. Zacks Investment Research upgraded Bioverativ from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Jefferies Group reiterated a “buy” rating and set a $70.00 price target (up from $67.00) on shares of Bioverativ in a research report on Wednesday, August 9th. Argus upgraded Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, September 20th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $71.00 price target on shares of Bioverativ in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Bioverativ has a consensus rating of “Hold” and an average price target of $60.93.

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About Bioverativ

Bioverativ Inc (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively.

Institutional Ownership by Quarter for Bioverativ (NASDAQ:BIVV)

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