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Bioventus (BVS)
NASDAQ:BVS
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Bioventus
(NASDAQ:BVS)
47Neutral
Positive Factors
Commercial Execution
The company is shifting from being a recovery story to an execution story, improving commercial execution across major business units.
Financial Performance
Bioventus posted a strong Q4, beating revenue, adjusted EBITDA, and pro forma EPS expectations with significant improvements in its business units.
Investment Capacity
Bioventus has financial breathing room to invest in commercial and R&D efforts, helping it remain competitive.
Negative Factors
Debt Concerns
Bioventus still has a significant amount of debt on its balance sheet, which could limit strategic uses of capital.
Pain Treatments
Pain Treatments growth benefited from a few million dollars of above-normal distributor orders, which is expected to negatively impact Q1 expectations as lower distributor orders are anticipated.
Revenue Challenges
Q1/H1 organic revenues should be more challenged given two fewer selling days in the Q1, pull-forward of HA orders from the Q1/25 to Q4/24, and continued BGS distributor choppiness for a couple more quarters.
Bioventus (BVS) vs. S&P 500 (SPY)
Market Cap
$557.76M
Dividend YieldN/A
Average Volume (3M)476.42K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth8.60%
EPS Growth-42.76%
CountryUS
Employees930
SectorHealthcare
Sector Strength41
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.08
Shares Outstanding66,357,610
10 Day Avg. Volume694,721
30 Day Avg. Volume476,417
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)2.96
Price to Sales (P/S)0.00
P/FCF Ratio11.73
Enterprise Value/Market Cap1.32
Enterprise Value/Revenue0.34
Enterprise Value/Gross Profit1.90
Enterprise Value/Ebitda4.20
Forecast
1Y Price Target
$11.00Price Target Upside62.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Bioventus Business Overview & Revenue Model
Company DescriptionBioventus Inc. (BVS) is a global medical technology company focused on developing, manufacturing, and marketing clinically proven orthobiologic solutions that help enhance healing and improve the quality of life for patients. The company's core products are designed to address the musculoskeletal market, providing therapies for bone healing, osteoarthritis pain, and surgical solutions. Bioventus operates in sectors including orthobiologics, surgical orthopedics, and advanced rehabilitation solutions, serving healthcare professionals and patients worldwide.
How the Company Makes MoneyBioventus generates revenue primarily through the sale of its orthobiologic products and solutions to healthcare providers, hospitals, and clinics. The company earns money by selling devices and therapies that facilitate bone healing and reduce pain associated with musculoskeletal conditions. Key revenue streams include sales of their EXOGEN ultrasound bone healing system, DUROLANE and GELSYN-3 viscosupplementation products for osteoarthritis pain relief, and PTP bone graft substitutes used in surgical procedures. Bioventus also enters into strategic partnerships and collaborations with other healthcare entities to expand its product offerings and market reach, enhancing its revenue-generating potential. The company invests in research and development to innovate and improve its product portfolio, which can also lead to increased sales and market competitiveness.
Bioventus Financial Statement Overview
Summary
Bioventus shows signs of financial recovery with positive revenue growth and improved cash flow. However, negative net margins and ROE indicate ongoing profitability challenges. The balance sheet is strengthening with reduced debt levels, suggesting improved financial stability.Income Statement
Bioventus shows a mixed performance in its income statement. Gross profit margin has improved to 100% in the latest year due to reported gross profit equaling total revenue, but net profit margin remains negative, indicating persistent losses. Revenue growth is positive at 11.9% from 2023 to 2024, showing some recovery. However, the EBIT and EBITDA margins are negative, reflecting challenges in operational efficiency and profitability.45
Neutral
Balance Sheet
The balance sheet reveals a stable but cautious picture. The debt-to-equity ratio decreased significantly, indicating reduced leverage and improved financial stability. However, the return on equity remains negative due to persistent net losses. The equity ratio is moderate, suggesting a balanced capital structure but with room for improvement in equity strength.50
Neutral
Cash Flow
Cash flow analysis shows signs of improvement with a strong growth in operating cash flow. The free cash flow to net income ratio is positive, indicating that cash generation is better than net profitability figures suggest. However, the operating cash flow to net income ratio implies that cash flow generation is not yet robust enough to cover net losses consistently.55
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 573.28M | 512.35M | 512.12M | 430.90M | 321.16M | Gross Profit |
| 388.23M | 328.19M | 331.08M | 302.71M | 233.52M | EBIT |
| -11.98M | -81.72M | -35.68M | 17.72M | 21.24M | EBITDA |
| -49.55M | -23.07M | -109.20M | 51.81M | 50.44M | Net Income Common Stockholders |
| -33.54M | -156.23M | -213.39M | 9.59M | 16.41M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 41.58M | 36.96M | 31.81M | 43.93M | 86.84M | Total Assets |
| 727.96M | 810.91M | 1.37B | 1.23B | 494.47M | Total Debt |
| 335.63M | 394.85M | 418.07M | 357.68M | 188.38M | Net Debt |
| 294.05M | 357.88M | 386.25M | 313.75M | 101.54M | Total Liabilities |
| 542.35M | 589.79M | 1.03B | 692.07M | 350.31M | Stockholders Equity |
| 147.94M | 173.59M | 316.58M | 458.92M | 142.24M |
| Cash Flow | Free Cash Flow | |||
| 37.79M | 7.98M | -25.06M | 15.62M | 51.13M | Operating Cash Flow |
| 38.80M | 15.34M | -13.54M | 22.99M | 71.80M | Investing Cash Flow |
| 22.96M | 15.81M | -116.44M | -283.76M | -20.50M | Financing Cash Flow |
| -54.58M | -26.65M | 62.08M | 273.37M | -29.57M |
Bioventus Technical Analysis
Negative
6.79
Price Trends
8.20
Negative
9.22
Negative
10.08
Negative
Market Momentum
-0.47
Negative
41.13
Neutral
44.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BVS, the sentiment is Negative. The current price of 6.79 is below the 20-day moving average (MA) of 7.06, below the 50-day MA of 8.20, and below the 200-day MA of 10.08, indicating a bearish trend. The MACD of -0.47 indicates Negative momentum. The RSI at 41.13 is Neutral, neither overbought nor oversold. The STOCH value of 44.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BVS.
Bioventus Risk Analysis
Bioventus disclosed 76 risk factors in its most recent earnings report. Bioventus reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bioventus Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $843.34M | ― | -15.96% | ― | 22.60% | 41.26% | |
63 Neutral | $571.42M | ― | -11.33% | ― | 31.28% | -81.86% | |
52 Neutral | $5.15B | 3.02 | -44.64% | 2.83% | 16.44% | -0.47% | |
52 Neutral | $606.26M | 45.80 | -36.78% | ― | 1.34% | -530.36% | |
52 Neutral | $538.79M | ― | -7.22% | ― | 18.81% | 67.41% | |
47 Neutral | $557.76M | ― | -19.79% | ― | 8.60% | -42.76% | |
47 Neutral | $475.66M | ― | -27.82% | ― | 5.85% | -8.92% |
* Healthcare Sector Average
Performance Comparison
BVS
Bioventus
6.79
0.56
8.99%
OFIX
Orthofix
12.14
-2.96
-19.60%
AXGN
AxoGen
11.83
5.63
90.81%
AVNS
Avanos Medical
13.11
-7.21
-35.48%
KIDS
OrthoPediatrics
23.07
-9.46
-29.08%
SIBN
SI-Bone
19.79
5.39
37.43%
Bioventus Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: -3.41%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted solid growth in certain segments such as Surgical Solutions and the expansion into the PRP market, along with increased EPS and reaffirmation of financial guidance. However, these positives were tempered by a decline in overall revenue, foreign currency losses, and challenges in the international segment.Q1-2025 Updates
Positive Updates
Strong Revenue Growth in Surgical Solutions
Surgical Solutions revenue grew by 7%, driven by strong double-digit growth in Ultrasonics with capital sales in the U.S. up by more than 50% compared to the prior year.
Successful Expansion in Pain Treatment Portfolio
Bioventus signed an agreement with APEX Biologix to be the exclusive distributor of their XCELL PRP system in the U.S. for orthopedics and sports medicine, marking their entry into the large and fast-growing PRP market.
Increased Earnings Per Share
Adjusted earnings of $0.08 per share increased by 33% compared to the prior year.
Reaffirmation of 2025 Financial Guidance
Bioventus reaffirmed its full-year financial guidance, including organic revenue growth of 6% to 8%, adjusted EBITDA of $112 million to $116 million, and EPS of $0.64 to $0.68.
Negative Updates
Decline in Overall Revenue
First quarter revenue of $124 million represented a decline of 4% compared to the prior year, primarily due to the divestiture of the advanced rehabilitation business.
Impact of Foreign Currency Loss
Adjusted EBITDA was $3 million lower than the prior year, partly due to an unexpected $1.1 million foreign currency loss related to payables designated in Swedish krona.
Challenges in International Segment
Revenue from the International segment declined 12% compared to the prior year, with organic growth being only 1%.
Company Guidance
During the Bioventus First Quarter 2025 Conference Call, the company provided financial guidance for the year, reiterating their expectations for full-year revenue growth between 6% to 8%, adjusted EBITDA ranging from $112 million to $116 million, and adjusted earnings per share (EPS) between $0.64 and $0.68. Despite a 4% revenue decline in Q1 due to divestiture effects, organic growth was 5%. The company reported first-quarter revenue of $124 million and adjusted earnings of $0.08 per share, reflecting a 33% increase. Bioventus maintains a strong outlook for the second half of 2025, anticipating an acceleration in growth driven by strategic initiatives across their business segments, particularly in Surgical Solutions and pain treatments. The company also highlighted plans to enhance profitability with an expected adjusted EBITDA margin expansion of at least 100 basis points for the year and aims to nearly double cash from operations compared to 2024, ultimately reducing net leverage below 2.5x by year-end.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.