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Bioventus (BVS) Soars 12.4%: Is Further Upside Left in the Stock?
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Bioventus (BVS - Free Report) shares ended the last trading session 12.4% higher at $11.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.9% gain over the past four weeks.
The sudden price rise can be attributed to growing investor confidence driven by the encouraging sales performance of the company's key business segments — Pain Treatments, Surgical Solutions and Restorative Therapies.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $154.53 million, up 4.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bioventus, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BVS going forward to see if this recent jump can turn into more strength down the road.
Bioventus is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Rigel Pharmaceuticals (RIGL - Free Report) , finished the last trading session 4% higher at $40.26. RIGL has returned 29.4% over the past month.
Rigel's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.91. Compared to the company's year-ago EPS, this represents a change of -72.3%. Rigel currently boasts a Zacks Rank of #5 (Strong Sell).
View the Zacks #1 Rank List
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Bioventus (BVS) Soars 12.4%: Is Further Upside Left in the Stock?
Bioventus (BVS - Free Report) shares ended the last trading session 12.4% higher at $11.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.9% gain over the past four weeks.
The sudden price rise can be attributed to growing investor confidence driven by the encouraging sales performance of the company's key business segments — Pain Treatments, Surgical Solutions and Restorative Therapies.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $154.53 million, up 4.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bioventus, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BVS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bioventus is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Rigel Pharmaceuticals (RIGL - Free Report) , finished the last trading session 4% higher at $40.26. RIGL has returned 29.4% over the past month.
Rigel's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.91. Compared to the company's year-ago EPS, this represents a change of -72.3%. Rigel currently boasts a Zacks Rank of #5 (Strong Sell).