Bioventus (NYSE:BVS) Posts Quarterly Earnings Results, Meets Estimates

Bioventus (NYSE:BVS) posted its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06, Zacks reports. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The business had revenue of $138.96 million for the quarter, compared to analyst estimates of $132.57 million. During the same period in the previous year, the firm earned $0.05 EPS. Bioventus updated its FY 2024 guidance to 0.400-0.420 EPS and its FY24 guidance to $0.40-0.42 EPS.

Bioventus Price Performance

BVS traded down $0.25 on Wednesday, reaching $11.23. The stock had a trading volume of 531,698 shares, compared to its average volume of 397,350. The firm has a 50-day moving average of $11.66 and a 200-day moving average of $8.26. Bioventus has a fifty-two week low of $3.36 and a fifty-two week high of $14.38. The company has a market capitalization of $909.29 million, a price-to-earnings ratio of -16.89 and a beta of 0.88. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82.

Analyst Ratings Changes

A number of research firms have recently issued reports on BVS. Canaccord Genuity Group raised their target price on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Craig Hallum increased their target price on Bioventus from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Insider Buying and Selling

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