Bioventus (NYSE:BVS) Releases Quarterly Earnings Results, Meets Expectations

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

Bioventus Trading Down 2.2 %

BVS stock traded down $0.25 during midday trading on Wednesday, reaching $11.23. The stock had a trading volume of 531,698 shares, compared to its average volume of 397,350. The firm has a market cap of $909.29 million, a price-to-earnings ratio of -16.89 and a beta of 0.88. Bioventus has a twelve month low of $3.36 and a twelve month high of $14.38. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. The business has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $8.26.

Insider Activity

In other Bioventus news, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired 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 approximately $59,331,502.35. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John A. Bartholdson bought 25,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average cost 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. This 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 is available at this hyperlink. Also, Director John A. Bartholdson bought 80,000 shares of Bioventus stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the acquisition, the director now 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 position. The disclosure for this purchase can be found here. Insiders own 32.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Craig Hallum upped 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.

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.