Bioventus (NYSE:BVS – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided EPS guidance of $0.47-$0.57 for the period, compared to the consensus EPS 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.
Bioventus Stock Performance
Bioventus stock traded up $0.22 during mid-day trading on Friday, reaching $8.11. The company's stock had a trading volume of 102,735 shares, compared to its average volume of 89,930. The firm's fifty day moving average price is $7.96 and its two-hundred day moving average price is $10.03. The company has a market capitalization of $628.12 million, a P/E ratio of -23.85 and a beta of 2.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.39. Bioventus has a 12-month low of $6.30 and a 12-month high of $17.53.
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Bioventus (NYSE:BVS – Get Rating) last released its quarterly 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 firm had revenue of $140.33 million for the quarter, compared to analysts' expectations 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 firm earned $0.16 earnings per share. Sell-side analysts predict that Bioventus will post 0.54 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Morgan Stanley boosted their price target on shares of Bioventus from $11.00 to $12.00 and gave the company an overweight rating in a research report on Friday, August 12th.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Bioventus by 1,845.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,140 shares of the company's stock worth $30,000 after acquiring an additional 2,030 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Bioventus by 123.9% in the first 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bioventus by 255.0% in the second 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 last quarter. Legal & General Group Plc lifted its stake in Bioventus by 267.1% in the second quarter. Legal & General Group Plc now owns 10,121 shares of the company's stock worth $69,000 after purchasing an additional 7,364 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Bioventus in the second quarter worth $75,000. 44.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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