Bioventus (NYSE:BVS – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.47-$0.57 for the period, compared to the consensus earnings per share 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.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley upped their target price 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 Stock Performance
Shares of BVS stock opened at $7.29 on Friday. The company has a market capitalization of $564.62 million, a P/E ratio of -21.76 and a beta of 2.07. The business's 50 day moving average is $7.97 and its two-hundred day moving average is $10.26. The company has a current ratio of 1.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Bioventus has a 12-month low of $6.30 and a 12-month high of $17.53.
Bioventus (NYSE:BVS – Get Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Bioventus had a positive return on equity of 10.35% and a negative net
margin of 4.26%. The business had revenue of $140.33 million for the quarter, compared to analysts' expectations of $140.01 million. During the same quarter in the prior year, the company posted $0.16 EPS. Analysts expect that Bioventus will post 0.54 EPS for the current fiscal year.
Hedge Funds Weigh In On Bioventus
A number of hedge funds have recently made changes to their positions in BVS. Jane Street Group LLC acquired a new stake in shares of Bioventus in the first quarter valued at approximately $355,000. Ergoteles LLC acquired a new stake in shares of Bioventus in the first quarter valued at approximately $327,000. Rhumbline Advisers increased its holdings in shares of Bioventus by 58.6% in the second quarter. Rhumbline Advisers now owns 44,717 shares of the company's stock valued at $305,000 after purchasing an additional 16,517 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Bioventus by 57.4% in the first quarter. MetLife Investment Management LLC now owns 18,975 shares of the company's stock valued at $268,000 after purchasing an additional 6,917 shares during the last quarter. Finally, Zebra Capital Management LLC acquired a new stake in shares of Bioventus in the first quarter valued at approximately $254,000. Institutional investors and hedge funds own 44.62% of the company's stock.
About Bioventus
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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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