Bioventus (NYSE:BVS) Releases FY 2024 Earnings Guidance

Bioventus (NYSE:BVS) updated its FY 2024 earnings guidance on Tuesday. 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 2.4 %

Shares of NYSE:BVS traded down $0.27 during mid-day trading on Wednesday, reaching $11.21. 775,177 shares of the company were exchanged, compared to its average volume of 398,490. Bioventus has a 1 year low of $3.36 and a 1 year high of $14.38. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The firm’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $8.26. The firm has a market cap of $907.67 million, a price-to-earnings ratio of -16.91 and a beta of 0.88.

Bioventus (NYSE:BVS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The firm had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. During the same quarter in the previous year, the business earned $0.05 EPS. Equities research analysts forecast that Bioventus will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Craig Hallum increased their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group lifted their target price on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday.

Insider Activity

In other news, Director John A. Bartholdson purchased 80,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $8.55 per share, with a total value 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 represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John A. Bartholdson acquired 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the purchase, the director now directly owns 6,913,857 shares in the company, valued at approximately $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Bartholdson bought 25,500 shares of Bioventus stock in a transaction on Monday, August 19th. The stock was purchased 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 represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 32.90% of the company’s stock.

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.