Bioventus (NYSE:BVS) Releases FY24 Earnings Guidance

Bioventus (NYSE:BVS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.40-0.42 for the period, compared to the consensus 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 Trading Down 3.3 %

Bioventus stock traded down $0.38 during trading hours on Wednesday, reaching $11.10. The company had a trading volume of 808,777 shares, compared to its average volume of 398,579. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. Bioventus has a 12-month low of $3.36 and a 12-month high of $14.38. The company has a 50-day moving average price of $11.66 and a 200 day moving average price of $8.26. The firm has a market cap of $898.77 million, a price-to-earnings ratio of -16.91 and a beta of 0.88.

Bioventus (NYSE:BVS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $138.96 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.05 earnings per share. Equities analysts forecast that Bioventus will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on BVS. Craig Hallum boosted their target price on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their price objective on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday.

Insider Transactions at Bioventus

In other Bioventus news, Director John A. Bartholdson bought 80,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of $8.55 per share, with a total value of $218,025.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Bartholdson purchased 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost 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 $59,113,477.35. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.