Bioventus (NYSE:BVS) Releases Earnings Results, Beats Expectations By $0.12 EPS

Bioventus (NYSE:BVS) posted its earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12, Yahoo Finance reports. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. The company had revenue of $151.22 million during the quarter, compared to the consensus estimate of $137.70 million. During the same quarter last year, the firm earned $0.14 earnings per share. Bioventus updated its FY 2024 guidance to 0.360-0.420 EPS.

Bioventus Price Performance

BVS stock traded down $0.03 during midday trading on Friday, reaching $7.57. The company had a trading volume of 134,271 shares, compared to its average volume of 317,273. The company has a market capitalization of $599.29 million, a price-to-earnings ratio of -21.71 and a beta of 0.84. The stock has a 50 day moving average price of $6.56 and a 200-day moving average price of $5.55. Bioventus has a 1-year low of $2.82 and a 1-year high of $8.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.97.

Analyst Ratings Changes

A number of research firms have recently weighed in on BVS. Canaccord Genuity Group lifted their target price on Bioventus from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Craig Hallum boosted their price target on Bioventus from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Activity at Bioventus

In related news, CFO Mark Leonard Singleton sold 9,219 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $51,349.83. Following the completion of the transaction, the chief financial officer now owns 84,895 shares of the company’s stock, valued at $472,865.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bioventus news, CFO Mark Leonard Singleton sold 9,219 shares of Bioventus stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $51,349.83. Following the transaction, the chief financial officer now owns 84,895 shares in the company, valued at $472,865.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Anthony D’adamio sold 11,308 shares of Bioventus stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $66,038.72. Following the completion of the transaction, the senior vice president now owns 81,630 shares in the company, valued at approximately $476,719.20. The disclosure for this sale can be found here. Insiders sold a total of 40,184 shares of company stock valued at $230,591 over the last quarter. 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.