Bioventus (NYSE:BVS) Updates FY 2024 Earnings Guidance

Bioventus (NYSE:BVS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.400-0.420 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of $562.0 million-$567.0 million, compared to the consensus revenue estimate of $561.8 million. Bioventus also updated its FY24 guidance to $0.40-0.42 EPS.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BVS. Craig Hallum lifted their price objective on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Canaccord Genuity Group lifted their price objective on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday.

Bioventus Price Performance

BVS stock traded down $0.04 during mid-day trading on Thursday, reaching $11.24. 635,211 shares of the company traded hands, compared to its average volume of 400,782. 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 company has a market capitalization of $910.10 million, a P/E ratio of 36.08 and a beta of 0.88. Bioventus has a 52-week low of $3.36 and a 52-week high of $14.38. The company has a fifty day moving average price of $11.72 and a 200-day moving average price of $8.33.

Bioventus (NYSE:BVS) last posted its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $138.96 million during the quarter, compared to analyst estimates of $132.57 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, analysts anticipate that Bioventus will post 0.4 earnings per share for the current year.

Insider Activity

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John A. Bartholdson bought 80,000 shares of the company’s stock in a transaction that occurred on 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Bartholdson bought 25,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly 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 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.