Bioventus (NYSE:BVS) Updates 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 Stock Performance

BVS stock 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 twelve month low of $3.36 and a twelve month high of $14.38. The business’s fifty day moving average is $11.66 and its 200-day moving average is $8.26. The company has a market cap of $1.11 billion, a P/E ratio of -20.77 and a beta of 0.88.

Bioventus (NYSE:BVS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The company had revenue of $151.22 million during the quarter, compared to analysts’ expectations of $137.70 million. During the same period in the prior year, the business posted $0.14 EPS. Equities research analysts forecast that Bioventus will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BVS. Craig Hallum lifted their price target 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. Canaccord Genuity Group increased their price target on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

Insider Activity at Bioventus

In other news, Director John A. Bartholdson purchased 80,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $8.55 per share, with a total value of $684,000.00. Following the purchase, the director now directly 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 filing with the SEC, which can be accessed through this link. In other Bioventus news, Director John A. Bartholdson purchased 80,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $8.55 per share, with a total value of $684,000.00. Following the purchase, the director now directly owns 6,913,857 shares of the company’s stock, valued at $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was acquired 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 disclosure for this purchase can be found here. 32.90% of the stock is currently owned by insiders.

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.