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Bioventus Reports Upbeat Earnings, Joins Ranpak, Beachbody And Other Big Stocks Moving Higher On Tuesday

Published 12/03/2024, 14:37
Updated 12/03/2024, 15:40
© Reuters. Bioventus Reports Upbeat Earnings, Joins Ranpak, Beachbody And Other Big Stocks Moving Higher On Tuesday

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks were higher, with the Dow Jones index surging more than 200 points on Tuesday.

Shares of Bioventus Inc. (NASDAQ: BVS) rose sharply during Tuesday’s session after the company reported better-than-expected quarterly financial results and issued FY24 net sales guidance above estimates.

Bioventus posted adjusted earnings of 7 cents per share, beating market estimates of 2 cents per share. The company’s quarterly sales came in at $135.42 million, versus expectations of $123.96 million, according to data from Benzinga Pro.

Bioventus shares surged 10.8% to $5.88 on Tuesday.

Here are some other big stocks recording gains in today’s session.

  • Ranpak Holdings Corp. (NASDAQ: PACK) shares climbed 40.1% to $6.12 after the company reported better-than-expected fourth-quarter revenue results and issued FY24 guidance. Also, Baird maintained an Outperform rating on the stock and raised its price target from $5 to $7.
  • Nukkleus Inc. (NASDAQ: NUKK) shares gained 22.5% to $1.41 after surging over 43% on Monday.
  • The Beachbody Company, Inc. (NYSE: BODI) rose 16.7% to $10.60 after the company reported better-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance.
  • Kanzhun Limited (NASDAQ: BZ) climbed 14.8% to $20.10 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. The company approved a $200 million share buyback.
  • Heritage Insurance Holdings, Inc. (NYSE: HRTG) shares rose 13.4% to $8.11 following better-than-expected fourth-quarter results.
  • NuScale Power Corporation (NYSE: SMR) surged 12.8% to $6.18.
  • Mission Produce, Inc. (NASDAQ: AVO) gained 12% to $11.98 following upbeat quarterly results.
  • SIGA Technologies, Inc. (NASDAQ: SIGA) surged 11.4% to $5.45 after the company announced a special cash dividend.
  • Bioventus Inc. (NASDAQ: BVS) climbed 11.2% to $5.91 after the company reported better-than-expected fourth-quarter financial results and issued FY24 net sales guidance above estimates.
  • GigaCloud Technology Inc. (NASDAQ: GCT) gained 11.1% to $34.27.
  • Bowman Consulting Group Ltd. (NASDAQ: BWMN) rose 11% to $37.33 following strong quarterly results.
  • Oracle Corporation (NYSE: ORCL) gained 10.5% to $126.09 after the company reported upbeat earnings for its fiscal third quarter.
  • Universal Insurance Holdings, Inc. (NYSE: UVE) rose 10% to $21.57. Universal Insurance announced a new $20 million share repurchase authorization.
  • Rumble Inc. (NASDAQ: RUM) gained 8.4% to $ 7.24.
  • Fanhua Inc. (NASDAQ: FANH) surged 9.3% to $6.02.
  • Archer-Daniels-Midland Company (NYSE: ADM) climbed 5% to $57.63 after the company reported fourth-quarter financial results and issued FY24 guidance. Also, the company authorized the purchase an additional $2 billion of shares under its existing share repurchase program.
  • MINISO Group Holding Limited (NASDAQ: MNSO) shares rose 3% to $18.45 after posting stronger-than-expected quarterly earnings.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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