Bioventus (NYSE:BVS) Releases Quarterly Earnings Results, Hits Estimates

Bioventus (NYSE:BVS) issued its earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06, Zacks reports. The business had revenue of $138.96 million during 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 period in the previous year, the company earned $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 Stock Performance

Bioventus stock traded down $0.04 during trading on Thursday, reaching $11.24. The company had a trading volume of 635,211 shares, compared to its average volume of 400,782. The firm’s 50-day simple moving average is $11.72 and its 200 day simple moving average is $8.33. Bioventus has a 52 week low of $3.36 and a 52 week high of $14.38. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $910.10 million, a price-to-earnings ratio of 36.08 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several research firms recently commented on BVS. Craig Hallum increased their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Canaccord Genuity Group raised their target price on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday.

Insiders Place Their Bets

In other news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction on Monday, August 19th. The shares were acquired at an average price 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 of the company’s stock, valued at $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John A. Bartholdson acquired 25,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $8.55 per share, with a total value of $218,025.00. Following the acquisition, the director now directly owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Bartholdson bought 80,000 shares of the firm’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 directly owns 6,913,857 shares of the company’s stock, valued at $59,113,477.35. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company 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.