Bioventus (NYSE:BVS) Posts Quarterly Earnings Results, Hits Expectations

Bioventus (NYSE:BVS) released its quarterly earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06, Zacks reports. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The business had revenue of $138.96 million for the quarter, compared to the consensus estimate of $132.57 million. During the same quarter last year, the business 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 0.4 %

BVS traded down $0.04 during trading on Thursday, hitting $11.24. 635,211 shares of the stock traded hands, compared to its average volume of 400,782. The firm has a market capitalization of $910.10 million, a P/E ratio of 36.08 and a beta of 0.88. Bioventus has a 12-month low of $3.36 and a 12-month high of $14.38. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96. The firm has a 50-day moving average of $11.72 and a 200 day moving average of $8.33.

Insider Buying and Selling at Bioventus

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the 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 transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John A. Bartholdson bought 80,000 shares of the business’s stock in a transaction dated 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 owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the transaction, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. 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.

Analysts Set New Price Targets

A number of research analysts have commented on BVS shares. Canaccord Genuity Group increased their price target on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum upped their price target on shares of Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

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.