Bioventus (NYSE:BVS) Issues Earnings Results, Beats Expectations By $0.12 EPS

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

Bioventus Stock Down 7.8 %

BVS traded down $0.63 during trading on Wednesday, hitting $7.46. The stock had a trading volume of 913,689 shares, compared to its average volume of 317,357. The stock has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $5.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.53. Bioventus has a twelve month low of $2.82 and a twelve month high of $8.36. The company has a market capitalization of $590.58 million, a PE ratio of -21.31 and a beta of 0.84.

Insider Transactions at Bioventus

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

Analyst Ratings Changes

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

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.