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In a recent transaction, Singleton Mark Leonard, the Senior Vice President and Chief Financial Officer of Bioventus Inc. (NASDAQ:BVS), sold shares of the company’s Class A common stock. The transaction, which took place on April 11, involved the sale of 3,875 shares at a weighted average price of $7.57 per share, amounting to a total value of $29,333. The medical device company, currently valued at $511 million, has seen its stock surge 71% over the past year despite recent market volatility.
Following this sale, Singleton retains ownership of 141,088 shares in the company. The shares were sold as part of a standing 10b5-1 instruction, which allows insiders to set up a trading plan for selling stocks they own. This transaction was executed to cover tax obligations arising from the vesting of restricted stock units. According to InvestingPro analysis, while Bioventus wasn’t profitable in the last twelve months, analysts expect the company to turn profitable this year.
The sale was part of a broader trade involving multiple employees of Bioventus, with transaction prices ranging between $7.145 and $7.890. Singleton has committed to providing detailed information about the aggregate number of shares sold at each price if requested by the company, its security holders, or the Securities and Exchange Commission. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading near its fair value, with 8 additional exclusive insights available to subscribers.
In other recent news, Bioventus Inc. reported its fourth-quarter 2024 earnings, surpassing revenue forecasts with a total of $154 million, which marked a 14% increase year-over-year. This exceeded the expected $145.16 million, demonstrating the company’s ability to outperform market expectations. The company also reported a full-year adjusted EBITDA of $109 million, reflecting a 23% rise compared to the previous year. Additionally, Bioventus has made significant progress in reducing its debt, paying down nearly $50 million, which has improved its financial health. Looking ahead, the company projects 2025 net sales in the range of $560-$570 million, indicating 6-8% organic growth. Canaccord Genuity maintained its Buy rating on Bioventus with a $15.00 price target, citing the company’s strategic focus on growth and profitability under CEO Rob Claypoole. The firm has set ambitious financial targets for 2025, aiming for above-market growth and expanding profitability. These developments reflect Bioventus’s strategic initiatives to enhance its market position and financial performance.
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