Bioventus (NYSE:BVS) Issues FY24 Earnings Guidance

Bioventus (NYSE:BVS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.40-0.42 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of $562-567 million, compared to the consensus revenue estimate of $561.76 million. Bioventus also updated its FY 2024 guidance to 0.400-0.420 EPS.

Wall Street Analysts Forecast Growth

BVS has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on Bioventus from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum raised their price objective on Bioventus from $12.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Bioventus Price Performance

BVS traded down $0.38 on Wednesday, hitting $11.10. 808,777 shares of the company’s stock were exchanged, compared to its average volume of 398,579. Bioventus has a fifty-two week low of $3.36 and a fifty-two week high of $14.38. The stock has a market cap of $898.77 million, a price-to-earnings ratio of -16.91 and a beta of 0.88. The firm has a 50-day moving average price of $11.66 and a 200-day moving average price of $8.26. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82.

Bioventus (NYSE:BVS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $138.96 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.05 EPS. As a group, equities analysts anticipate that Bioventus will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Bioventus

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

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.