Bioventus gains after raising annual sales, profit forecasts

Bioventus

07/05/2024 15:01

** Shares of medical device company Bioventus  BVS.O  rise
19% to $4.77
    ** Co expects annual net sales of $535 million to $550
million vs previous expectations of $520 million to $535 million
    ** Sees 2024 adj. EPS of 25 cents to 33 cents, up from prior
forecast of 12 cents to 20 cents
    ** Analysts expect annual sales of $528.03 million and adj.
profit of 16 cents/share - LSEG data 
     ** Co posts Q1 revenue of $129.5 million, above analysts'
average estimate of $118.38 million
    ** Stock down ~7% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))