Synovus Financial Corp Takes $1.56 Million Position in Bioverativ Inc (NASDAQ:BIVV)

Synovus Financial Corp bought a new position in Bioverativ Inc (NASDAQ:BIVV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,336 shares of the biotechnology company’s stock, valued at approximately $1,556,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in shares of Bioverativ in the 3rd quarter valued at about $137,000. TCI Wealth Advisors Inc. purchased a new position in shares of Bioverativ during the 3rd quarter valued at about $186,000. Canada Pension Plan Investment Board purchased a new position in Bioverativ in the 3rd quarter worth approximately $194,000. ACG Wealth purchased a new position in Bioverativ in the 3rd quarter worth approximately $205,000. Finally, Private Advisor Group LLC purchased a new position in Bioverativ in the 3rd quarter worth approximately $223,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Shares of Bioverativ Inc (BIVV) traded down $0.06 during mid-day trading on Friday, reaching $53.92. The company’s stock had a trading volume of 651,574 shares, compared to its average volume of 1,340,000. Bioverativ Inc has a fifty-two week low of $40.00 and a fifty-two week high of $64.41. The stock has a market capitalization of $5,830.00 and a P/E ratio of 13.18.

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

BIVV has been the topic of several research reports. Zacks Investment Research lowered Bioverativ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Royal Bank of Canada assumed coverage on Bioverativ in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $59.00 price target for the company. Deutsche Bank set a $53.00 price objective on Bioverativ and gave the company a “hold” rating in a research report on Monday, November 20th. Piper Jaffray Companies reissued an “overweight” rating and set a $71.00 price target on shares of Bioverativ in a report on Monday, October 23rd. Finally, Argus raised Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price 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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