On December 23, Katrina J. Church, Senior Vice President and Chief Compliance Officer at Bioventus Inc. (NASDAQ:), sold 2,535 shares of the company’s Class A common stock. The shares were sold at a weighted average price of $10.53, amounting to a total transaction value of $26,693. The transaction comes as Bioventus stock has shown remarkable strength, posting a 102% gain over the past year. According to InvestingPro data, analysts maintain a positive outlook with price targets ranging from $13 to $17.
This sale was conducted to cover taxes upon the vesting of restricted stock units, as per a standing 10b5-1 instruction adopted in June 2023. Following this transaction, Church retains ownership of 47,264 shares of Bioventus. Want deeper insights into insider transactions and comprehensive analysis? InvestingPro offers exclusive access to detailed insider trading patterns and 8 additional key insights about Bioventus, along with a professional research report that transforms complex data into actionable intelligence.
In other recent news, Bioventus, an orthobiologic solutions provider, reported impressive third-quarter growth, with a 15% year-over-year increase in revenue to $139 million. The company also raised its full-year revenue guidance to between $562 million and $567 million, indicating an expected growth of nearly 13%. The key growth drivers were identified as surgical solutions, particularly in ultrasonics and bone graft substitutes, and the HA business for knee osteoarthritis. Additionally, the company’s adjusted EBITDA rose by 9% to $24 million, with an anticipated annual margin improvement of 100 basis points.
Bioventus also announced the sale of its advanced rehabilitation business for $25 million, with potential earn-outs of up to $20 million. The company aims to reduce its net leverage to below 3 times by the end of 2025 and has increased its cash position to $43 million. Adjusted earnings per share guidance for the full year has been increased to $0.40 to $0.42.
Despite anticipating a lower growth rate in Q4 due to challenging year-over-year comparisons and a temporary slowdown in onboarding new distributor agents, Bioventus remains confident in its continued strong performance into 2025. The company is optimistic about growth driven by a strong position in the HA market and a disciplined resource allocation strategy. These developments reflect the company’s strategic initiatives aimed at driving growth and profitability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
