Bioventus (NYSE:BVS) Posts Earnings Results, Beats Expectations By $0.12 EPS

Bioventus (NYSE:BVS) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12, Yahoo Finance reports. The business had revenue of $151.22 million for the quarter, compared to analysts’ expectations of $137.70 million. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. During the same period in the prior year, the firm earned $0.14 EPS. Bioventus updated its FY 2024 guidance to 0.360-0.420 EPS.

Bioventus Stock Performance

Shares of NYSE BVS traded up $0.14 during midday trading on Thursday, reaching $7.60. 494,923 shares of the company traded hands, compared to its average volume of 318,525. Bioventus has a 52 week low of $2.82 and a 52 week high of $8.36. The stock has a 50-day moving average price of $6.56 and a 200 day moving average price of $5.55. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.97. The company has a market cap of $601.66 million, a price-to-earnings ratio of -21.71 and a beta of 0.84.

Insider Activity at Bioventus

In related news, SVP Anthony D’adamio sold 5,904 shares of Bioventus stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.57, for a total transaction of $32,885.28. Following the sale, the senior vice president now directly owns 95,576 shares in the company, valued at $532,358.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Bioventus news, CFO Mark Leonard Singleton sold 13,753 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $5.84, for a total value of $80,317.52. Following the sale, the chief financial officer now directly owns 63,114 shares in the company, valued at $368,585.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Anthony D’adamio sold 5,904 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $5.57, for a total transaction of $32,885.28. Following the completion of the sale, the senior vice president now owns 95,576 shares in the company, valued at $532,358.32. The disclosure for this sale can be found here. Insiders have sold a total of 40,184 shares of company stock worth $230,591 over the last ninety days. 32.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Craig Hallum increased their price target on Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group increased their price target on Bioventus from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th.

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.