Bioventus rises after beat-and-raise quarter

Bioventus

06/08/2024 14:41

** Medical product maker Bioventus' shares  BVS.O  jump
17.3% to $7.34 in early trading
    ** Co reports Q2 adjusted EPS of 19 cents vs analysts'
estimates of 7 cents - LSEG data
    ** Q2 rev. of $151.2 mln beats estimate of $137.6 mln
    ** Co raises FY EPS forecast to 36-42 cents from 25-33 cents
    ** Co also raises 2024 net sales forecast to $557
million-$567 million from its outlook of $535 million-$550
million in May
    ** 2 of 3 brokerages rate the stock "buy" and 1 "sell";
their median PT is $8.50
    ** Up to last close, stock had risen 18.8% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))