Bioventus (NYSE:BVS) Releases FY 2024 Earnings Guidance

Bioventus (NYSE:BVS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.400-0.420 for the period, compared to the consensus estimate of 0.390. The company issued revenue guidance of $562.0 million-$567.0 million, compared to the consensus revenue estimate of $561.8 million. Bioventus also updated its FY24 guidance to $0.40-0.42 EPS.

Bioventus Trading Down 0.4 %

Shares of NYSE:BVS traded down $0.04 during trading on Thursday, reaching $11.24. 635,211 shares of the company traded hands, compared to its average volume of 400,782. The business’s fifty day moving average is $11.72 and its 200-day moving average is $8.33. Bioventus has a 52-week low of $3.36 and a 52-week high of $14.38. The firm has a market capitalization of $910.10 million, a price-to-earnings ratio of 36.08 and a beta of 0.88. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The company had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, analysts forecast that Bioventus will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Canaccord Genuity Group raised their price target on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum raised their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Insiders Place Their Bets

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