Bioventus (NYSE:BVS) Releases FY 2024 Earnings Guidance

Bioventus (NYSE:BVS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.400-0.420 for the period, compared to the consensus 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.

Bioventus Trading Down 18.7 %

BVS traded down $2.57 during mid-day trading on Tuesday, reaching $11.14. The stock had a trading volume of 1,692,714 shares, compared to its average volume of 394,466. The stock has a market capitalization of $902.01 million, a P/E ratio of -13.29 and a beta of 0.88. 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 firm’s fifty day simple moving average is $11.66 and its two-hundred day simple moving average is $8.26. Bioventus has a 52 week low of $3.36 and a 52 week high of $14.38.

Bioventus (NYSE:BVS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. During the same period last year, the company earned $0.14 EPS. On average, equities analysts predict that Bioventus will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

BVS has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Craig Hallum raised their price target on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, September 27th.

Insider Transactions at Bioventus

In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of Bioventus 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 acquisition, the director now owns 6,939,357 shares in the company, valued at approximately $59,331,502.35. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John A. Bartholdson bought 80,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $8.55 per share, with a total value of $684,000.00. Following the completion of the transaction, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Bartholdson bought 25,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was bought 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. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 32.90% of the stock is owned by corporate 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.