Bioventus Inc. (NASDAQ: ), a $578.5 million medical device company whose stock is up 75.6% over the past year, Chairman and CEO Robert E. Claypoole recently sold 28,786 shares of the company’s Class A common stock, according to documentation from the Securities Commission. The shares were sold on January 13 at a weighted average price of $9.10, generating a total of approximately $261,952. The shares were sold to cover taxes upon vesting of restricted stock units, following permanent 10b5-1 instructions adopted on January 11, 2024. Following the transaction, Claypoole retains ownership of 64,964 shares in the company. The sale was made in multiple transactions, with prices ranging from $8.935 to $9.22 per share. With analyst price targets ranging from $13 to $17, suggesting significant upside potential, investors seeking deeper insights into insider trading patterns and company valuations can access comprehensive analysis via InvestingProwhich offers exclusive access to 8+ additional real-time insights for BVS.
In other recent news, Bioventus, a global leader in orthobiological solutions, reported a 15% year-over-year revenue increase in the third quarter, reaching $139 million. This marks the company’s fourth consecutive quarter of double-digit organic revenue growth. The company also raised its full-year revenue guidance to between $562 million and $567 million, reflecting expected growth of nearly 13%. In addition, Bioventus completed the divestment of its Advanced Rehab business to Accelmed Partners, a move that saw Canaccord Genuity maintain its Buy rating on the company.
The sale of Advanced Rehab is seen as a strategic move by Canaccord Genuity, which could potentially improve Bioventus’ margins and reduce debt. It is also expected to allow the company to focus more on growth areas such as Ultrasonics, PNS and international expansion.
Bioventus is also selling its advanced rehabilitation business for $25 million, with potential proceeds of up to $20 million. The company aims to reduce net debt below three 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. These are recent developments that highlight the company’s strong performance and strategic initiatives aimed at driving growth and profitability.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
