On December 23, Katrina J. Church, senior vice president and chief compliance officer at Bioventus Inch. (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, for a total transaction value of $26,693. The transaction comes at a time when Bioventus shares have shown incredible strength, posting a 102% rise over the past year. According to InvestingPro data, analysts maintain a positive outlook with price targets ranging from $13 to $17.
This sale was made to cover taxes following the acquisition of restricted stock units, pursuant to applicable 10b5-1 instructions adopted in June 2023. Following this transaction, Church retains ownership of 47,264 shares of Bioventus. Want deeper insight into internal transactions and comprehensive analysis? InvestingPro offers exclusive access to detailed insider trading patterns and 8 additional key insights on Bioventus, along with a professional research report that transforms complex data into actionable intelligence.
In other recent news, bioventus, a provider of orthobiological solutions, reported impressive growth in the third quarter, with revenue up 15% year-over-year to $139 million. The company also raised its full-year revenue guidance to between $562 million and $567 million, indicating expected growth of nearly 13%. Key growth drivers were identified as surgical solutions, particularly in ultrasound and bone graft substitutes, and HA’s knee osteoarthritis business. Additionally, the company’s adjusted EBITDA increased 9% to $24 million, with an expected 100 basis point improvement in annual margin.
Bioventus also announced the sale of its advanced rehabilitation business for $25 million, with potential proceeds of up to $20 million. The company aims to reduce its net debt below 3 times by the end of 2025 and has increased its cash position to $43 million. Full-year adjusted EPS guidance was increased to $0.40 to $0.42.
Despite forecasting a lower growth rate in the fourth quarter due to challenging year-over-year comparisons and a temporary slowdown in the onboarding of new distribution agents, Bioventus remains confident of continued strong results in 2025. The company is optimistic about growth driven by a strong position in the HA market and a disciplined strategy distribution of resources. These trends reflect the company’s strategic initiatives aimed at boosting growth and profitability.
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