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 Stock Performance

Shares of NYSE BVS traded down $2.57 during mid-day trading on Tuesday, hitting $11.14. The company had a trading volume of 1,692,714 shares, compared to its average volume of 394,466. The stock has a market cap of $902.01 million, a price-to-earnings ratio of -13.29 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 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 two-hundred day simple moving average is $8.26.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $151.22 million during the quarter, compared to analyst estimates of $137.70 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same period last year, the company posted $0.14 EPS. As a group, equities research analysts forecast that Bioventus will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BVS. Craig Hallum raised their target price on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group raised their target price on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 13th.

Insiders Place Their Bets

In other news, Director John A. Bartholdson acquired 25,500 shares of Bioventus stock in a transaction on 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 transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bioventus news, Director John A. Bartholdson purchased 80,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $59,113,477.35. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Bartholdson purchased 25,500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $8.55 per share, with a total value of $218,025.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 32.90% of the company’s stock.

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.