Bioventus (BVS)
NASDAQ:BVS
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Bioventus
(NASDAQ:BVS)
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Rating:76Outperform
Price Target:
$12.00
▲(14.07% Upside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by the company’s improved financial profile (stronger profitability, high margins, strong free cash flow, and a de-risked balance sheet) and supportive technical uptrend. The biggest offset is valuation, with a high P/E that leaves less room for execution or growth volatility. Earnings call messaging was broadly positive with raised EPS and cash guidance, though investors should monitor one-time Q1 benefits, investment-driven margin variability, and remaining leverage.
Positive Factors
Strong Free Cash Flow
Sustained, high-quality free cash flow that tracks net income materially improves financial flexibility. Over the next 2–6 months this supports debt paydown, targeted reinvestment in PNS/PRP/Ultrasonics, and funds working capital, reducing reliance on external financing and lowering execution risk.
Negative Factors
Uneven Revenue Momentum
Top-line inconsistency is a persistent risk: if procedure volumes, distributor timing, or clinical adoption falter, revenue and profit improvements could reverse. Over 2–6 months this can translate into margin pressure, lower cash generation, and difficulty sustaining the recent recovery without clearer secular traction.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Free Cash Flow
Sustained, high-quality free cash flow that tracks net income materially improves financial flexibility. Over the next 2–6 months this supports debt paydown, targeted reinvestment in PNS/PRP/Ultrasonics, and funds working capital, reducing reliance on external financing and lowering execution risk.
Read all positive factors
Bioventus Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes revenue from different business segments, highlighting which areas are driving growth and which may need strategic adjustments to improve performance.
Analyzes revenue from different business segments, highlighting which areas are driving growth and which may need strategic adjustments to improve performance.
Data provided by:
The Fly
The FlyBioventus (BVS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$887.97M
Dividend YieldN/A
Average Volume (3M)257.41K
Price to Earnings (P/E)48.3
Beta (1Y)0.89
Revenue Growth1.52%
EPS GrowthN/A
CountryUS
Employees930
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.42
Shares Outstanding67,748,050
10 Day Avg. Volume219,442
30 Day Avg. Volume257,406
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)2.69
Price to Sales (P/S)0.87
P/FCF Ratio6.94
Enterprise Value/Market Cap0.79
Enterprise Value/Revenue1.22
Enterprise Value/Gross Profit1.81
Enterprise Value/Ebitda6.55
Forecast
1Y Price Target
$14.33Price Target Upside36.25% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.77
Revenue Forecast (FY)$605.76M
Bioventus Business Overview & Revenue Model
Company Description
Bioventus Inc. a medical device company, focuses on developing and commercializing clinical treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pa...
How the Company Makes Money
Bioventus makes money primarily by selling musculoskeletal-focused medical products to healthcare providers and distributors, with revenue generally recognized from product sales. Its revenue model is largely transaction-based: (1) direct sales to...
Bioventus Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong financial momentum: solid revenue growth (+7%), robust adjusted EBITDA expansion (+24%), improved margins and materially stronger cash flow (+$28M YoY), along with raised EPS and cash guidance. Management is accelerating targeted investments (primarily into PNS, PRP, Ultrasonics and International) and added senior leadership to scale new businesses. Offsetting items include a one-time favorable rebate that boosted Q1 results, near-term margin volatility as investments ramp, early-stage nature of new growth drivers, distributor inventory/timing headwinds in Pain, and a still-material debt balance ($272M) that remains a focus. Overall, the positives (growth, profitability, cash generation and proactive reinvestment) outweigh the manageable near-term challenges.Positive Updates
Revenue Growth and Guidance Reaffirmed
Q1 revenue of $132.0M, up 7% year-over-year; company reaffirmed 2026 revenue guidance at $600M–$610M.
Negative Updates
One-Time Favorable Rebate Benefit
Q1 results benefited from a favorable rebate adjustment described as a one-time process change by a commercial payer partner; management cautioned similar variability is not expected going forward and did not raise revenue guidance because of this.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth and Guidance Reaffirmed
Q1 revenue of $132.0M, up 7% year-over-year; company reaffirmed 2026 revenue guidance at $600M–$610M.
Read all positive updates
Company Guidance
Bioventus updated 2026 guidance by raising adjusted EPS to $0.75–$0.79 (up $0.02 from prior $0.73–$0.77), increasing full‑year cash from operations to $84–$89M (up $2M) and reaffirming revenue guidance of $600–$610M; management expects to hold adjusted EBITDA margin around 20% for 2026, see revenue/adjusted EBITDA/adjusted EPS accelerate from H1 to H2, and assumes no additional U.S. dollar impact. Management also reiterated a target to push net leverage below 2.0x by end‑Q2 2026 (ahead of schedule), citing strong Q1 results that underpin the guidance: Q1 revenue $132M (+7% YoY), adjusted EBITDA $24M (+24%), adjusted EBITDA margin 18% (+260 bps YoY), adjusted EPS $0.15 (vs $0.08), cash from operations $9M (up $28M YoY), cash $36M and debt $272M (down $22M in Q1). Management further highlighted a 76% adjusted gross margin (+110 bps) in Q1 and said PNS + PRP are expected to contribute roughly 200 basis points of growth in 2026.Bioventus Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 576.30M | 568.09M | 573.28M | 512.35M | 512.12M | 430.90M |
| Gross Profit | 390.63M | 382.43M | 388.23M | 328.19M | 331.08M | 302.71M |
| EBITDA | 107.68M | 105.56M | 39.22M | -23.07M | -121.61M | 45.48M |
| Net Income | 28.48M | 22.73M | -33.54M | -156.23M | -158.70M | 19.38M |
Balance Sheet | ||||||
| Total Assets | 650.54M | 683.56M | 727.96M | 810.91M | 1.37B | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 35.85M | 51.24M | 41.58M | 36.96M | 30.19M | 43.93M |
| Total Debt | 18.75M | 311.35M | 335.63M | 394.85M | 418.07M | 357.68M |
| Total Liabilities | 416.27M | 455.11M | 542.35M | 589.79M | 960.43M | 692.07M |
| Stockholders Equity | 188.90M | 184.10M | 147.94M | 173.59M | 325.24M | 458.92M |
Cash Flow | ||||||
| Free Cash Flow | 100.63M | 71.41M | 37.79M | 7.98M | -15.02M | 2.10M |
| Operating Cash Flow | 102.94M | 73.98M | 38.80M | 15.34M | -13.54M | 22.99M |
| Investing Cash Flow | -3.00M | -3.25M | 22.96M | 15.81M | -116.44M | -283.76M |
| Financing Cash Flow | -86.23M | -61.44M | -54.58M | -26.65M | 62.08M | 273.37M |
Bioventus Technical Analysis
Positive
10.52
Price Trends
9.65
Positive
8.88
Positive
8.01
Positive
Market Momentum
0.27
Positive
60.68
Neutral
57.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BVS, the sentiment is Positive. The current price of 10.52 is above the 20-day moving average (MA) of 10.27, above the 50-day MA of 9.65, and above the 200-day MA of 8.01, indicating a bullish trend. The MACD of 0.27 indicates Positive momentum. The RSI at 60.68 is Neutral, neither overbought nor oversold. The STOCH value of 57.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BVS.
Bioventus Risk Analysis
Bioventus disclosed 81 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $887.97M | 48.32 | 16.27% | ― | 1.52% | ― | |
61 Neutral | $654.60M | -32.03 | -11.00% | ― | 16.77% | 39.26% | |
52 Neutral | $465.93M | -8.79 | -11.42% | ― | 14.52% | 4.11% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $490.72M | -5.55 | -13.44% | ― | 2.59% | 59.39% | |
47 Neutral | $408.37M | -13.58 | -17.61% | ― | 3.63% | -93.57% |
* Healthcare Sector Average
BVS
Bioventus
10.66
3.67
52.50%
OFIX
Orthofix Medical
12.09
0.10
0.83%
VREX
Varex Imaging
9.32
1.18
14.50%
KIDS
OrthoPediatrics
18.23
-4.66
-20.36%
SIBN
SI-Bone
14.84
-4.87
-24.71%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.