Bioventus (NYSE:BVS – Get Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.47-$0.57 for the period, compared to the consensus estimate of $0.65. The company issued revenue guidance of $547.50 million-$562.50 million, compared to the consensus revenue estimate of $552.13 million.
Wall Street Analyst Weigh In
Separately, Morgan Stanley upped their price target on Bioventus from $11.00 to $12.00 and gave the stock an overweight rating in a report on Friday, August 12th.
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Bioventus Price Performance
NYSE:BVS traded down $0.24 during trading hours on Friday, reaching $8.23. 141,473 shares of the company traded hands, compared to its average volume of 116,706. The firm's 50-day moving average is $8.15 and its 200-day moving average is $10.51. The stock has a market cap of $637.41 million, a P/E ratio of 12.66 and a beta of 2.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.39 and a quick ratio of 1.05. Bioventus has a 1-year low of $6.30 and a 1-year high of $17.53.
Bioventus (NYSE:BVS – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The company had revenue of $140.33 million for the quarter, compared to analyst estimates of $140.01 million. Bioventus had a negative net
margin of 4.26% and a positive return on equity of 10.35%. During the same quarter last year, the company posted $0.16 EPS. Equities research analysts expect that Bioventus will post 0.54 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in shares of Bioventus by 1,845.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,140 shares of the company's stock worth $30,000 after purchasing an additional 2,030 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Bioventus by 123.9% during the 1st quarter. Lazard Asset Management LLC now owns 3,132 shares of the company's stock worth $44,000 after purchasing an additional 1,733 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bioventus by 255.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,593 shares of the company's stock worth $52,000 after purchasing an additional 5,454 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Bioventus during the 2nd quarter worth $75,000. Finally, Walleye Capital LLC purchased a new position in shares of Bioventus during the 2nd quarter worth $77,000. Hedge funds and other institutional investors own 86.85% of the company's stock.
Bioventus Company Profile
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Bioventus Inc a medical device company, focuses on developing and commercializing clinical 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 joint pain injection therapies, as well as peripheral nerve stimulation products.
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