Bioventus (NYSE:BVS) Releases FY24 Earnings Guidance

Bioventus (NYSE:BVS - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.40-0.42 for the period, compared to the consensus earnings per share 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.

Bioventus Price Performance

NYSE BVS traded down $2.23 during trading on Tuesday, reaching $11.48. 2,190,855 shares of the company traded hands, compared to its average volume of 396,794. Bioventus has a 1-year low of $3.36 and a 1-year high of $14.38. The company has a market cap of $929.54 million, a price-to-earnings ratio of -17.38 and a beta of 0.88. The stock's 50 day moving average price is $11.66 and its two-hundred day moving average price is $8.26. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.96 and a current ratio of 1.33.

Bioventus (NYSE:BVS - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. Bioventus had a positive return on equity of 14.39% and a negative net margin of 7.82%. The firm had revenue of $151.22 million during the quarter, compared to analyst estimates of $137.70 million. During the same period in the prior year, the company posted $0.14 earnings per share. As a group, analysts anticipate that Bioventus will post 0.4 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Craig Hallum upped their price objective on shares of Bioventus from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Canaccord Genuity Group raised their price target on Bioventus from $8.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, August 13th.

Insiders Place Their Bets

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the transaction, the director now directly owns 6,939,357 shares in the company, valued at $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 related news, Director John A. Bartholdson purchased 25,500 shares of Bioventus stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $218,025.00. Following the transaction, the director now directly owns 6,939,357 shares of the company's stock, valued at approximately $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 acquired 80,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $8.55 per share, with a total value of $684,000.00. Following the acquisition, the director now directly 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 position. The disclosure for this purchase can be found here. Company insiders own 32.90% of the company's stock.

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.