Bioventus (NYSE:BVS) Issues FY24 Earnings Guidance

Bioventus (NYSE:BVS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.40-0.42 for the period, compared to the consensus earnings per share 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 Stock Performance

BVS opened at $13.71 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 1.82. Bioventus has a 12-month low of $3.36 and a 12-month high of $14.38. The business has a 50 day moving average of $11.66 and a 200-day moving average of $8.26. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -20.77 and a beta of 0.88.

Bioventus (NYSE:BVS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The company had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts expect that Bioventus will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on BVS shares. Canaccord Genuity Group boosted their price target on Bioventus from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Craig Hallum increased their target price on shares of Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, September 27th.

Insider Activity

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $8.55 per share, with a total value of $218,025.00. Following the acquisition, the director now 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of the stock in a transaction on Monday, August 19th. The stock was 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John A. Bartholdson purchased 80,000 shares of Bioventus stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the purchase, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. This represents 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.