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

Bioventus (NYSE:BVS) released its quarterly earnings results on Tuesday. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06, Zacks reports. The firm had revenue of $138.96 million for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.05 earnings per share. 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

Shares of Bioventus stock traded down $0.19 during midday trading on Wednesday, reaching $11.29. The company had a trading volume of 505,616 shares, compared to its average volume of 397,165. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $11.66 and a 200 day simple moving average of $8.26. Bioventus has a 1-year low of $3.36 and a 1-year high of $14.38. The company has a market capitalization of $914.15 million, a price-to-earnings ratio of -16.89 and a beta of 0.88.

Insiders Place Their Bets

In other news, Director John A. Bartholdson bought 25,500 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $218,025.00. Following the purchase, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Bioventus news, Director John A. Bartholdson bought 25,500 shares of Bioventus stock in a transaction dated 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 purchase, the director now owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Bartholdson purchased 80,000 shares of the stock in a transaction dated 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 transaction, the director now owns 6,913,857 shares in the company, valued at $59,113,477.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company’s stock.

Analyst Ratings Changes

BVS has been the topic of several recent analyst reports. Craig Hallum boosted their target price 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 increased their target price on Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

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.