Bioventus (NYSE:BVS) Issues Earnings Results, Meets Estimates

Bioventus (NYSE:BVS) announced its quarterly earnings data on Tuesday. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06, Zacks reports. The business had revenue of $138.96 million during the quarter, compared to the consensus estimate 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 business 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 Trading Up 3.1 %

Shares of BVS stock traded up $0.35 on Friday, hitting $11.59. The company had a trading volume of 203,067 shares, compared to its average volume of 399,871. The firm has a market cap of $938.44 million, a P/E ratio of -17.39 and a beta of 0.88. Bioventus has a twelve month low of $3.36 and a twelve month high of $14.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33. The stock’s 50-day moving average is $11.75 and its two-hundred day moving average is $8.35.

Insiders Place Their Bets

In related news, Director John A. Bartholdson purchased 25,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John A. Bartholdson purchased 25,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the purchase, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Bartholdson bought 80,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average price of $8.55 per share, for a total transaction of $684,000.00. Following the transaction, the director now owns 6,913,857 shares of the company’s stock, valued at approximately $59,113,477.35. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BVS shares. Craig Hallum upped their price objective on 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 raised their price target on shares of Bioventus from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday.

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.