Bioventus (BVS)
Market Price (2/1/2026): $7.93 | Market Cap: $530.7 MilSector: Health Care | Industry: Life Sciences Tools & Services
Bioventus (BVS)
Market Price (2/1/2026): $7.93Market Cap: $530.7 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldFCF Yield is 10% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 52x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.2% | |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% | |
| Key risksBVS key risks include [1] a significant debt burden with restrictive covenants that limit strategic initiatives, Show more. |
| Attractive yieldFCF Yield is 10% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 52x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.2% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksBVS key risks include [1] a significant debt burden with restrictive covenants that limit strategic initiatives, Show more. |
Qualitative Assessment
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Bioventus (BVS) stock has gained about 20% since 10/31/2025 because of the following key factors:
1. Strong Q3 2025 Earnings Beat: Bioventus reported robust third-quarter 2025 financial results on November 4, 2025, surpassing analyst expectations. The company announced an Earnings Per Share (EPS) of $0.15, exceeding the consensus estimate of $0.12 by 25%. Additionally, quarterly revenue reached $138.65 million, beating projections by approximately $0.46 million.
2. Reaffirmed and Positive 2025 Financial Guidance: The company reiterated its full-year 2025 financial guidance, projecting organic revenue growth of 6% to 8%, adjusted EBITDA between $112 million and $116 million, and adjusted EPS of $0.64 to $0.68. This reaffirmation instilled confidence in investors regarding Bioventus's business trajectory and provided a clear, positive outlook, further supported by expectations for earnings to grow by 12.20% in the coming year.
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1. Strong Q3 2025 Earnings Beat: Bioventus reported robust third-quarter 2025 financial results on November 4, 2025, surpassing analyst expectations. The company announced an Earnings Per Share (EPS) of $0.15, exceeding the consensus estimate of $0.12 by 25%. Additionally, quarterly revenue reached $138.65 million, beating projections by approximately $0.46 million.
2. Reaffirmed and Positive 2025 Financial Guidance: The company reiterated its full-year 2025 financial guidance, projecting organic revenue growth of 6% to 8%, adjusted EBITDA between $112 million and $116 million, and adjusted EPS of $0.64 to $0.68. This reaffirmation instilled confidence in investors regarding Bioventus's business trajectory and provided a clear, positive outlook, further supported by expectations for earnings to grow by 12.20% in the coming year.
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Stock Movement Drivers
Fundamental Drivers
The 21.1% change in BVS stock from 10/31/2025 to 1/31/2026 was primarily driven by a 449.5% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 1312026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.55 | 7.93 | 21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 564 | 564 | -0.1% |
| Net Income Margin (%) | 0.3% | 1.8% | 449.5% |
| P/E Multiple | 235.2 | 52.2 | -77.8% |
| Shares Outstanding (Mil) | 67 | 67 | -0.6% |
| Cumulative Contribution | 21.1% |
Market Drivers
10/31/2025 to 1/31/2026| Return | Correlation | |
|---|---|---|
| BVS | 21.1% | |
| Market (SPY) | 1.5% | 9.5% |
| Sector (XLV) | 7.3% | 30.0% |
Fundamental Drivers
The 21.6% change in BVS stock from 7/31/2025 to 1/31/2026 was primarily driven by a 24.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 1312026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.52 | 7.93 | 21.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 568 | 564 | -0.7% |
| P/S Multiple | 0.8 | 0.9 | 24.2% |
| Shares Outstanding (Mil) | 66 | 67 | -1.4% |
| Cumulative Contribution | 21.6% |
Market Drivers
7/31/2025 to 1/31/2026| Return | Correlation | |
|---|---|---|
| BVS | 21.6% | |
| Market (SPY) | 9.8% | 22.0% |
| Sector (XLV) | 19.2% | 22.7% |
Fundamental Drivers
The -25.7% change in BVS stock from 1/31/2025 to 1/31/2026 was primarily driven by a -25.0% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 1312026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.68 | 7.93 | -25.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 555 | 564 | 1.6% |
| P/S Multiple | 1.3 | 0.9 | -25.0% |
| Shares Outstanding (Mil) | 65 | 67 | -2.5% |
| Cumulative Contribution | -25.7% |
Market Drivers
1/31/2025 to 1/31/2026| Return | Correlation | |
|---|---|---|
| BVS | -25.7% | |
| Market (SPY) | 16.0% | 31.4% |
| Sector (XLV) | 6.8% | 35.3% |
Fundamental Drivers
The 304.6% change in BVS stock from 1/31/2023 to 1/31/2026 was primarily driven by a 302.3% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 1312026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.96 | 7.93 | 304.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 517 | 564 | 9.1% |
| P/S Multiple | 0.2 | 0.9 | 302.3% |
| Shares Outstanding (Mil) | 62 | 67 | -7.8% |
| Cumulative Contribution | 304.6% |
Market Drivers
1/31/2023 to 1/31/2026| Return | Correlation | |
|---|---|---|
| BVS | 304.6% | |
| Market (SPY) | 76.6% | 20.2% |
| Sector (XLV) | 21.4% | 18.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BVS Return | -25% | -82% | 102% | 99% | -29% | 5% | -59% |
| Peers Return | 4% | -15% | -8% | -24% | 35% | -5% | -20% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| BVS Win Rate | 36% | 33% | 58% | 58% | 33% | 100% | |
| Peers Win Rate | 56% | 53% | 47% | 42% | 54% | 25% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| BVS Max Drawdown | -40% | -88% | -65% | -25% | -42% | -3% | |
| Peers Max Drawdown | -20% | -41% | -42% | -35% | -19% | -9% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: A, ATEC, CERS, AVRT, BLLN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/30/2026 (YTD)
How Low Can It Go
| Event | BVS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -95.2% | -25.4% |
| % Gain to Breakeven | 1974.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to A, ATEC, CERS, AVRT, BLLN
In The Past
Bioventus's stock fell -95.2% during the 2022 Inflation Shock from a high on 2/11/2021. A -95.2% loss requires a 1974.3% gain to breakeven.
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About Bioventus (BVS)
Bioventus Inc. a medical device company, focuses on developing and commercializing clinically treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's portfolio of products includes pain treatments, which comprise non-surgical joint pain injection therapies, as well as peripheral nerve stimulation products. Its surgical solutions include bone graft substitutes to fuse and grow bones, enhance results following spinal and other orthopedic surgeries; and ultrasonic medical devices for the use in precise bone sculpting, remove tumors, and tissue debridement. The company's restorative therapies comprise an ultrasonic bone healing system for fracture care; skin allografts; and products that are used to support healing of chronic wounds, as well as advanced rehabilitation devices designed to help patients regain leg or hand function. It serves physicians spanning the orthopedic continuum, including sports medicine, total joint reconstruction, hand and upper extremities, foot and ankle, podiatric surgery, trauma, spine, and neurosurgery in the physician's office or clinic, ambulatory surgical centers, or in the hospital setting. The company was founded in 2011 and is headquartered in Durham, North Carolina.
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Here are 1-3 brief analogies to describe Bioventus (BVS):
- Think of Bioventus as a medical technology company similar to a focused division within Stryker or Johnson & Johnson's medical devices arm, specializing in products for bone healing and joint pain relief.
- Essentially, it's like the orthopedic 'active healing' and pain management segment of a major medical device company such as Medtronic or Zimmer Biomet, offering solutions for musculoskeletal issues.
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- EXOGEN Ultrasound Bone Healing System: A non-invasive device that uses low-intensity pulsed ultrasound to accelerate the healing of certain fresh fractures and to heal established nonunions.
- Hyaluronic Acid (HA) Injections (e.g., DUROLANE, SUPARTZ FX): Viscosupplementation treatments designed to relieve pain and improve joint function for patients with knee osteoarthritis.
- Bone Graft Substitutes (e.g., OsteoAMP, PLEXUS): A portfolio of biomaterials, including demineralized bone matrices and synthetic grafts, used to promote bone growth and fusion in surgical procedures.
- Surgical Fixation Systems (e.g., BioFix, SIGMAFIX): Devices such as screws, plates, and anchors used to stabilize bone during orthopedic and spinal surgeries.
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Bioventus (BVS) primarily sells its products to other companies within the healthcare sector, operating on a Business-to-Business (B2B) model.
According to its most recent SEC filings (e.g., Form 10-K), no single customer accounts for 10% or more of Bioventus's total revenue. Therefore, there are no individually named "major customers" that are required to be disclosed or would be considered dominant in the traditional sense.
However, Bioventus's products are purchased and utilized by a broad range of healthcare providers and organizations. The categories of customer companies it serves include:
- Hospitals: Medical institutions that purchase Bioventus products for use in surgical procedures and patient care.
- Ambulatory Surgery Centers (ASCs): Outpatient facilities where surgical procedures are performed, often stocking Bioventus products.
- Physician Offices and Clinics: These include practices of orthopedic surgeons, neurosurgeons, and pain management physicians who use or prescribe Bioventus treatments.
- Third-party Distributors: Especially in international markets, Bioventus utilizes distributors to reach various healthcare providers.
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Here is the management team of Bioventus (BVS): Robert Claypoole, Chief Executive OfficerMr. Claypoole was appointed President and Chief Executive Officer of Bioventus, and a member of its Board of Directors, effective January 10, 2024. He brings over 20 years of global commercial leadership experience in the medical device industry. Before joining Bioventus, he served as Executive Vice President at Mölnlycke Health Care AB, where he led their $1.2 billion global Wound Care business. In this role at Mölnlycke, he significantly accelerated growth and advanced the company as an innovative wound care solutions provider. Prior to that, he was Executive Vice President and President, US for Mölnlycke, where he successfully turned around a declining business. Mr. Claypoole previously held senior leadership positions at Medtronic, Covidien (before its acquisition by Medtronic), and Johnson & Johnson's Vision Care division. At Covidien, he served as Global Vice President & General Manager for Obesity & Metabolic Health and for the Soft Tissue Repair & Hemostats business, leading a global turnaround for the latter.
Mark Singleton, Senior Vice President and Chief Financial Officer
Mr. Singleton was appointed Senior Vice President, Chief Financial Officer, and Principal Accounting Officer of Bioventus, effective March 21, 2022. He possesses over two decades of experience in operational finance and mergers & acquisitions within large and multinational organizations. Most recently, he served as Vice President of Finance, Americas for Teleflex Incorporated, overseeing the $1.7 billion Americas business. Prior to this, he was Vice President of Finance of Teleflex's Vascular business and was involved in initiating the acquisition of Vascular Solutions, which became a separate business unit at Teleflex. Before his tenure at Teleflex, Mr. Singleton spent nearly two decades at Lenovo/IBM, where he held various senior financial leadership positions, including EMEA CFO, Western Europe CFO, North America CFO, and Think Business Group CFO. He also served as President and CEO of 5Star Life Insurance Company and as Head of Industry Solutions and CFO for LL Global.
Katrina Church, Chief Compliance Officer
Ms. Church joined Bioventus as Chief Compliance Officer, effective August 24, 2020. She brings over 20 years of experience counseling public and private companies on compliance with industry standards, reporting, and controls. Before Bioventus, she spent nearly 11 years with the Merz Group of companies, serving in various corporate counsel and compliance roles, including Global Compliance Officer for Merz Pharma GmbH & Co KGaA. She was nominated for and won the 2020 Women in Compliance Award for "Most Impactful Compliance Training Programme of the Year." Previously, she was Executive Vice President and General Counsel of Connetics Corporation, a medical dermatology company that was acquired by Stiefel in 2008. She also served as general counsel of VISX, Inc., a medical device company. She began her legal career as an attorney at Hopkins & Carley.
Anthony D'Adamio, Senior Vice President and General Counsel
Mr. D'Adamio serves as Senior Vice President and General Counsel of Bioventus. He has nearly 30 years of senior legal executive experience within diagnostic, healthcare data, and clinical service companies. Mr. D'Adamio is responsible for all general and corporate legal matters, as well as ethics and compliance functions at Bioventus. Prior to joining Bioventus, he served as General Counsel & Secretary of Siemens Medical Solutions and earlier as Deputy General Counsel & Secretary of Siemens Healthcare Diagnostics. He also spent five years as Senior Counsel within the Diagnostics Division of Bayer Healthcare before its acquisition by Siemens. He began his legal career at the law firm of Bond, Schoeneck & King before moving to corporate legal positions with companies such as Group Health Incorporated, Quest Diagnostics, and Covance.
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The key risks to Bioventus's business (BVS) are primarily centered around its financial leverage, market dynamics, and operational execution:
- Significant Debt Burden and Restrictive Covenants: Bioventus carries a substantial amount of debt, with approximately $341 million outstanding as of November 2025 and net debt around $280.4 million as of September 2025. This high leverage is reflected in a high net debt to equity ratio (135.3% to 155.6%) and weak interest coverage (1.6x). The company faces financial risks due to restrictive covenants in its credit agreements, which could limit access to credit, restrict strategic initiatives like acquisitions or investments, and potentially necessitate accelerated repayment of indebtedness if breached. Management has identified deleveraging the balance sheet as a key target.
- Product Concentration and Intense Market Competition: A significant portion of Bioventus's revenue is generated from a limited number of products, particularly its HA products. This product concentration exposes the company to risks if there are supply disruptions or a decline in market acceptance for these key offerings. Furthermore, Bioventus operates in a highly competitive and fragmented global orthobiologics market, where it competes with major orthopedic companies that often possess extensive distribution networks and larger research and development budgets. The market also faces potential technological disruption from generics, digital health solutions, and advanced therapies, which could erode Bioventus's market share.
- Reimbursement Pressures and Challenges in New Product Commercialization: Bioventus is exposed to mounting reimbursement pressures and heightened cost containment challenges in the healthcare industry, which threaten its margins and limit potential for sustained revenue growth. The company also faces inherent execution risks in developing and successfully commercializing new products and scaling new commercial operations for its pain management devices. The FDA regulatory process, which is essential for bringing new products to market or expanding indications, is often expensive, time-consuming, and uncertain. Failure to obtain and maintain necessary regulatory clearances and approvals could impede the commercialization of its products.
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Bioventus (BVS) operates in three main product segments: Pain Treatments, Restorative Therapies, and Surgical Solutions.
Pain Treatments
This segment includes hyaluronic acid (HA) treatments for osteoarthritis (such as DUROLANE, GELSYN-3, and SUPARTZ FX) and peripheral nerve stimulation (PNS) products like StimRouter.
- Osteoarthritis (Viscosupplementation/HA treatments): The global viscosupplementation market size was valued at USD 2.75 billion in 2023 and is projected to grow to USD 4.60 billion by 2032. North America held the largest share of this market, valued at USD 1.25 billion in 2023. The broader U.S. osteoarthritis injectables market was estimated at USD 3.99 billion in 2023 and is expected to reach USD 6.30 billion by 2030. Bioventus also refers to a total addressable market (TAM) of $2.1 billion for its HA therapy for knee osteoarthritis.
- Peripheral Nerve Stimulation (PNS): The peripheral nerve stimulation market is estimated to exceed USD 500 million by 2029. The specific region for this estimate is not explicitly stated.
Restorative Therapies
This segment primarily features the EXOGEN Ultrasound Bone Healing System for minimally invasive fracture treatments. This falls under the broader bone growth stimulators market.
- Bone Growth Stimulators: The global bone growth stimulators market size was valued at USD 2.01 billion in 2024 and is projected to reach approximately USD 3.64 billion by 2034. The North American market for bone growth stimulators was valued at USD 890 million in 2024, and the U.S. market specifically was estimated at USD 590 million in 2024, with projections to reach around USD 1.1 billion by 2034.
Surgical Solutions
This segment offers a comprehensive portfolio of bone graft substitutes (orthobiologics like OSTEOAMP, REFICIO, PUREBONE, SIGNAFUSE, OSTEOMATRIX+) and ultrasonic technologies for hard and soft tissue removal (e.g., neXus Ultrasonic Surgical Aspirator System, BoneScalpel Access, SonaStar Elite, SonaStar Legacy, SonicOne O.R.).
- Orthobiologics (Bone Graft Substitutes): The global orthobiologics market size was valued at USD 9.22 billion in 2024 and is projected to reach USD 13.86 billion by 2032. North America represented a significant portion of this market, with a value of USD 4.40 billion in 2024. Another source indicated the global orthobiologics market was approximately USD 6.99 billion in 2024 and is expected to reach about USD 11.95 billion by 2034, with North America holding the largest market share of 47% in 2024. Bioventus identifies specific target addressable markets of USD 0.9 billion for bone graft substitutes and USD 1.0 billion for orthobiologics.
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Here are 3-5 expected drivers of future revenue growth for Bioventus (BVS) over the next 2-3 years:
- New Product Launches in Pain Treatments: Bioventus has successfully launched new peripheral nerve stimulation (PNS) and platelet-rich plasma (PRP) systems, which are expected to be significant drivers of future growth. These new therapies for chronic pain management are anticipated to contribute at least 200 basis points of profitable growth in 2026. The company believes these innovative technologies will deliver sustainable growth and become meaningful value drivers.
- Continued Strength in Surgical Solutions, particularly Bone Graft Substitutes (BGS) and Ultrasonics: The surgical business, especially bone graft substitutes (BGS), demonstrated strong performance in Q3 2025, driven by distributor partners and a robust clinical value proposition. Furthermore, the ultrasonics segment continues to exhibit double-digit growth, fueled by market expansion with new capital placements. Bioventus anticipates sustained growth in both BGS and ultrasonics.
- International Market Expansion and Enhanced Commercial Execution: The international segment recorded a 10% organic growth in Q3 2025, and Bioventus expects this positive trend to persist. This anticipated growth is attributed to new leadership, ongoing market expansion opportunities, and improved commercial execution in these regions.
- Organic Revenue Growth from Core Portfolio: Bioventus has consistently reaffirmed its 2025 financial guidance, which includes an organic revenue growth target of 6% to 8%. This reflects the company's confidence in the underlying performance and demand across its existing product portfolio, particularly in pain treatment and surgical solutions segments, which showed respective revenue increases of 6.4% and 9.3% in Q3 2025.
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Share Repurchases
No information is readily available regarding the dollar amount of share repurchases made or authorized by Bioventus over the last 3-5 years.
Share Issuance
- Bioventus conducted an Initial Public Offering (IPO) in February 2021, offering 7,350,000 shares of Class A common stock at an expected price range of $16.00 to $18.00 per share.
- This IPO could have raised between approximately $117.6 million and $132.3 million.
- The number of outstanding shares significantly increased by 45.19% from 37.69 million in 2020 to 54.73 million in 2021, primarily driven by the IPO.
Outbound Investments
- Bioventus actively pursues mergers and acquisitions, focusing on acquiring differentiated technologies backed by clinical evidence, particularly in areas like pain therapies, minimally invasive surgical devices, sports medicine, spine and neurosurgery, foot and ankle, and diabetic foot ulcer treatments.
- In February 2023, the company entered into a settlement agreement regarding its acquisition of CartiHeal, which offered the option to eliminate up to $350 million of deferred purchase price obligations.
Capital Expenditures
- Capital expenditures for the purchase of property, plant, and equipment were approximately $13.68 million in fiscal year 2020, $24.79 million in fiscal year 2021, $7.39 million in fiscal year 2022, $5.88 million in fiscal year 2023, and $3.97 million in fiscal year 2024.
- For the trailing twelve months ending June 2025, capital expenditures were approximately $2.26 million.
- Bioventus is committed to investing in strategic growth initiatives, including the upcoming commercial launch of innovative peripheral nerve stimulation (PNS) devices, StimTrial and TalisMann, to target the minimally invasive, non-opioid pain management market.
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 14.83 |
| Mkt Cap | 2.2 |
| Rev LTM | 646 |
| Op Inc LTM | 20 |
| FCF LTM | 27 |
| FCF 3Y Avg | 6 |
| CFO LTM | 46 |
| CFO 3Y Avg | 10 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.9% |
| Rev Chg 3Y Avg | 5.7% |
| Rev Chg Q | 12.0% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Mgn LTM | 1.9% |
| Op Mgn 3Y Avg | -4.5% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 7.4% |
| CFO/Rev 3Y Avg | -0.9% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | -2.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.2 |
| P/S | 2.7 |
| P/EBIT | -3.9 |
| P/E | 7.2 |
| P/CFO | 44.1 |
| Total Yield | -0.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -0.4% |
| D/E | 0.2 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.8% |
| 3M Rtn | -8.4% |
| 6M Rtn | 18.4% |
| 12M Rtn | -11.0% |
| 3Y Rtn | -12.0% |
| 1M Excs Rtn | -3.4% |
| 3M Excs Rtn | -7.1% |
| 6M Excs Rtn | 12.2% |
| 12M Excs Rtn | -23.2% |
| 3Y Excs Rtn | -84.9% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Pain Treatments | 221 | 216 | 222 | 171 | |
| Surgical Solutions | 162 | 141 | 88 | 61 | |
| Restorative Therapies | 130 | 155 | 122 | 89 | |
| Bone graft substitutes | 43 | ||||
| Minimally invasive fracture treatment | 121 | ||||
| Osteoarthritic ("OA") joint pain treatment and joint preservation | 156 | ||||
| Total | 512 | 512 | 431 | 321 | 319 |
Price Behavior
Price Behavior
| Market Price | $7.93 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 02/11/2021 | |
| Distance from 52W High | -28.2% | |
| 50 Days | 200 Days | |
| DMA Price | $7.58 | $7.09 |
| DMA Trend | down | up |
| Distance from DMA | 4.7% | 11.9% |
| 3M | 1YR | |
| Volatility | 53.2% | 56.7% |
| Downside Capture | -72.20 | 125.93 |
| Upside Capture | 46.08 | 76.04 |
| Correlation (SPY) | 9.1% | 31.4% |
BVS Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.66 | 0.45 | 0.44 | 0.97 | 0.92 | 1.08 |
| Up Beta | 5.95 | 5.42 | 4.01 | 3.87 | 0.67 | 0.38 |
| Down Beta | 1.76 | 0.54 | -0.26 | -0.14 | 1.16 | 1.79 |
| Up Capture | 107% | -33% | 44% | 82% | 66% | 264% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 30 | 58 | 113 | 366 |
| Down Capture | -25% | -104% | -82% | 30% | 114% | 102% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 19 | 30 | 64 | 129 | 368 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BVS | |
|---|---|---|---|---|
| BVS | -24.2% | 56.6% | -0.29 | - |
| Sector ETF (XLV) | 7.7% | 17.2% | 0.27 | 35.3% |
| Equity (SPY) | 16.1% | 19.2% | 0.65 | 31.4% |
| Gold (GLD) | 76.5% | 23.4% | 2.38 | -5.3% |
| Commodities (DBC) | 11.1% | 15.9% | 0.48 | 3.5% |
| Real Estate (VNQ) | 5.3% | 16.5% | 0.14 | 35.4% |
| Bitcoin (BTCUSD) | -18.9% | 39.9% | -0.43 | 13.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BVS | |
|---|---|---|---|---|
| BVS | -16.2% | 81.8% | 0.17 | - |
| Sector ETF (XLV) | 7.1% | 14.5% | 0.31 | 19.4% |
| Equity (SPY) | 14.0% | 17.1% | 0.65 | 24.5% |
| Gold (GLD) | 20.8% | 16.5% | 1.03 | 1.8% |
| Commodities (DBC) | 12.2% | 18.8% | 0.53 | 0.4% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 26.3% |
| Bitcoin (BTCUSD) | 21.1% | 57.5% | 0.56 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BVS | |
|---|---|---|---|---|
| BVS | -8.4% | 81.8% | 0.17 | - |
| Sector ETF (XLV) | 10.4% | 16.6% | 0.52 | 19.4% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 24.5% |
| Gold (GLD) | 15.6% | 15.3% | 0.85 | 1.8% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 0.4% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 26.3% |
| Bitcoin (BTCUSD) | 71.5% | 66.4% | 1.11 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | 15.1% | 14.2% | 16.2% |
| 8/6/2025 | 18.7% | 19.1% | 15.6% |
| 3/11/2025 | 23.3% | 11.9% | -12.7% |
| 11/5/2024 | -16.3% | -9.3% | -19.5% |
| 8/6/2024 | 29.2% | 20.8% | 54.3% |
| 3/12/2024 | 5.5% | 3.4% | -6.4% |
| 11/7/2023 | 0.4% | 2.9% | 25.7% |
| 8/8/2023 | 14.1% | 39.4% | 0.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 5 |
| # Negative | 6 | 6 | 10 |
| Median Positive | 14.1% | 11.9% | 16.2% |
| Median Negative | -10.6% | -7.2% | -12.5% |
| Max Positive | 29.2% | 39.4% | 54.3% |
| Max Negative | -57.5% | -55.4% | -68.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/16/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/21/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 03/11/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nohra, Guy P | Direct | Sell | 12082025 | 7.57 | 10,000 | 75,658 | 882,248 | Form | |
| 2 | McMurry-Heath, Michelle | Direct | Sell | 11102025 | 7.42 | 17,701 | 131,255 | 422,638 | Form | |
| 3 | Singleton, Mark Leonard | SVP & CFO | Direct | Sell | 4152025 | 7.57 | 3,875 | 29,334 | 1,068,036 | Form |
| 4 | D'Adamio, Anthony | SVP & General Counsel | Direct | Sell | 4152025 | 7.57 | 2,958 | 22,392 | 994,819 | Form |
| 5 | Church, Katrina J | SVP & Chief Compliance Officer | Direct | Sell | 4152025 | 7.57 | 1,283 | 9,712 | 420,566 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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