Bioventus (NYSE:BVS) Announces Earnings Results, Hits Estimates

Bioventus (NYSE:BVS) released its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06, Zacks reports. The business had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. During the same period in the previous year, the firm earned $0.05 EPS. Bioventus updated its FY 2024 guidance to 0.400-0.420 EPS and its FY24 guidance to $0.40-0.42 EPS.

Bioventus Trading Up 3.1 %

BVS traded up $0.35 during midday trading on Friday, reaching $11.59. 203,067 shares of the company were exchanged, compared to its average volume of 399,871. The stock’s 50-day simple moving average is $11.75 and its 200 day simple moving average is $8.35. The stock has a market capitalization of $938.44 million, a P/E ratio of -17.39 and a beta of 0.88. Bioventus has a one year low of $3.36 and a one year 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.

Insider Transactions at Bioventus

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

Analysts Set New Price Targets

BVS has been the subject of several recent analyst reports. Canaccord Genuity Group raised their target price on 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 company a “buy” rating in a research note on Friday, September 27th.

Bioventus Company Profile

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.