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

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

Shares of Bioventus Inc. 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. 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. NUKK shares gained 22.5% to $1.41 after surging over 43% on Monday.
• The Beachbody Company, Inc. 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 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. HRTG shares rose 13.4% to $8.11 following better-than-expected fourth-quarter results.
• NuScale Power Corporation SMR surged 12.8% to $6.18.
• Mission Produce, Inc. AVO gained 12% to $11.98 following upbeat quarterly results.
• SIGA Technologies, Inc. SIGA surged 11.4% to $5.45 after the company announced a special cash dividend.
• Bioventus Inc. 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. GCT gained 11.1% to $34.27.
• Bowman Consulting Group Ltd. BWMN rose 11% to $37.33 following strong quarterly results.
• Oracle Corporation ORCL gained 10.5% to $126.09 after the company reported upbeat earnings for its fiscal third quarter.
• Universal Insurance Holdings, Inc. UVE rose 10% to $21.57. Universal Insurance announced a new $20 million share repurchase authorization.
• Rumble Inc. RUM gained 8.4% to $ 7.24.
• Fanhua Inc. FANH surged 9.3% to $6.02.
• Archer-Daniels-Midland Company 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 MNSO shares rose 3% to $18.45 after posting stronger-than-expected quarterly earnings.

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