Bioventus (NYSE:BVS) Announces Earnings Results

Bioventus (NYSE:BVS) issued its earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12, Yahoo Finance reports. Bioventus had a positive return on equity of 11.91% and a negative net margin of 4.14%. The business had revenue of $151.22 million during the quarter, compared to analyst estimates of $137.70 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Bioventus updated its FY 2024 guidance to 0.360-0.420 EPS.

Bioventus Price Performance

Shares of BVS stock traded up $0.14 on Thursday, reaching $7.60. The company’s stock had a trading volume of 494,923 shares, compared to its average volume of 318,525. The stock’s fifty day simple moving average is $6.56 and its 200-day simple moving average is $5.55. Bioventus has a 1 year low of $2.82 and a 1 year high of $8.36. The company has a current ratio of 1.53, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $601.66 million, a price-to-earnings ratio of -21.71 and a beta of 0.84.

Insiders Place Their Bets

In other Bioventus news, SVP Anthony D’adamio sold 11,308 shares of Bioventus stock in a transaction on Monday, June 17th. The shares were sold at an average price of $5.84, for a total transaction of $66,038.72. Following the completion of the transaction, the senior vice president now directly owns 81,630 shares of the company’s stock, valued at $476,719.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Anthony D’adamio sold 11,308 shares of Bioventus stock in a transaction on Monday, June 17th. The stock was sold at an average price of $5.84, for a total transaction of $66,038.72. Following the completion of the sale, the senior vice president now directly owns 81,630 shares in the company, valued at $476,719.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Leonard Singleton sold 9,219 shares of Bioventus stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.57, for a total value of $51,349.83. Following the sale, the chief financial officer now owns 84,895 shares of the company’s stock, valued at $472,865.15. The disclosure for this sale can be found here. Insiders sold 40,184 shares of company stock valued at $230,591 over the last three months. 32.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Bioventus from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Craig Hallum raised their target price on shares of Bioventus from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday.

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.