Bioventus (NYSE:BVS) Issues FY24 Earnings Guidance

Bioventus (NYSE:BVS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.40-0.42 for the period, compared to the consensus EPS estimate of $0.39. The company issued revenue guidance of $562-567 million, compared to the consensus revenue estimate of $561.76 million. Bioventus also updated its FY 2024 guidance to 0.400-0.420 EPS.

Bioventus Price Performance

Shares of BVS stock traded down $0.04 during trading hours on Thursday, hitting $11.24. The company had a trading volume of 635,211 shares, compared to its average volume of 400,782. The firm has a market capitalization of $910.10 million, a price-to-earnings ratio of 36.08 and a beta of 0.88. Bioventus has a 12 month low of $3.36 and a 12 month high of $14.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The firm’s fifty day moving average is $11.72 and its 200 day moving average is $8.33.

Bioventus (NYSE:BVS) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The company had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same quarter in the prior year, the business posted $0.05 EPS. On average, sell-side analysts predict that Bioventus will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BVS has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Craig Hallum raised their price objective on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Insider Buying and Selling

In other news, Director John A. Bartholdson bought 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of $8.55 per share, with a total value of $218,025.00. Following the acquisition, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost of $8.55 per share, with a total value of $218,025.00. Following the purchase, the director now directly owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Bartholdson purchased 80,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $8.55 per share, with a total value of $684,000.00. Following the acquisition, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.90% of the stock is currently owned by company insiders.

About Bioventus

Bioventus Inc, a medical device company, focuses on developing and commercializing treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pain treatments, which comprise non-surgical pain injection therapies, as well as peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis and Stimrouter to treat chronic peripheral pain.