Bioventus ups guidance

 

• Q2 Revenue Advanced by 10.3%, Organic Growth* by 13.9%
• Q2 Gross Margin Expanded 350 bps and Adjusted Gross Margin* 180 bps
• Cash from Operations of $15.2 million Increased 40.5%
• Raising Full-Year 2024 Financial Guidance Reflecting Enhanced Revenue Growth and Strong Execution of Strategic Priorities

Second Quarter 2024 Earnings Conference Call:

Management will host a conference call to discuss the Company’s financial results and provide a business update, with a question and answer session, at 8:30 a.m. Eastern Time on August 6, 2024. Those who would like to participate may dial 1-833-636-0497 (domestic and international) and refer to Bioventus Inc.

A live webcast of the call and any accompanying materials will also be provided on the investor relations section of the Company's website at https://ir.bioventus.com/.

The webcast will be archived on the Company’s website at https://ir.bioventus.com/ and available for replay until August 5, 2025.

https://www.globenewswire.com/news-release/2024/08/06/2924952/0/en/Bioventus-Reports-Second-Quarter-Financial-Results.html

Orthofix ups guidance

 

• Second quarter 2024 net sales of $198.6 million, an increase of 6% on a reported and constant currency basis compared to second quarter 2023
• Bone Growth Therapies (BGT) net sales growth of 12% compared to second quarter 2023, marking six consecutive quarters with double-digit net sales increases
• U.S. Spine Fixation1 net sales growth of 12% compared to second quarter 2023, driven by distribution expansion and further penetration in existing accounts
• Global Orthopedics net sales growth of 5% on a reported basis and 6% on a constant currency basis compared to second quarter 2023
• Second quarter 2024 net loss of $(33.4) million; Non-GAAP adjusted EBITDA of $16.6 million, an increase of $6.7 million, with adjusted EBITDA margin expanding 310 basis points compared to second quarter 2023
• Significant improvement in cash usage, paving the way for earlier than expected positive free cash flow for the second half of 2024
• Announced appointments of four new executive team members, further strengthening the breadth and depth of the Company's leadership team
• Increases full-year 2024 net sales guidance to $795 million to $800 million from $790 million to $795 million; Raises full-year 2024 non-GAAP adjusted EBITDA guidance to $64 million to $69 million from $62 million to $67 million

https://www.businesswire.com/news/home/20240806732152/en/

'Walgreens & Instacart Collaborate to Accept SNAP/EBT Online'

 Walgreens, the leading integrated independent retail pharmacy and healthcare provider, today announced a new collaboration with Instacart, the leading grocery technology company in North America, to offer online SNAP/EBT payment acceptance at more than 7,500 Walgreens stores nationwide, including over 100 Duane Reade locations in New York. Customers can now purchase thousands of SNAP-eligible products for same-day delivery via Instacart.

Currently, most Walgreens stores accept SNAP/EBT for in-person purchases. The collaboration with Instacart allows customers nationwide to use SNAP/EBT at any Walgreens, eliminating the need for transportation to the store. Walgreens is focused on enhancing the front-of-store experience and creating the right omnichannel solutions for our customers, while driving in-store efficiencies.

“Through Instacart, 96% of U.S. households enrolled in SNAP can use their benefits to shop for the essentials they need online. We’re dedicated to offering the best online selection for SNAP families, providing both access and choice through our marketplace,” said Sarah Mastrorocco, vice president and general manager of health at Instacart. “As we expand with trusted retailers like Walgreens, we’re proud to help more families in more communities get their essentials delivered.”

To order Walgreens SNAP-eligible items for delivery, customers can visit www.instacart.com/walgreens or select the Walgreens storefront in the Instacart mobile app. Customers simply add their SNAP EBT card as a form of payment on their Instacart profile and shop for SNAP-eligible items from the Walgreens or Duane Reade storefront. At checkout, SNAP users can select how much of their benefit they would like to allocate to eligible items in their order.

https://www.businesswire.com/news/home/20240806410409/en/Walgreens

Planet Fitness (NYSE:PLNT) Posts Better-Than-Expected Sales In Q2

 Inclusive gym franchise company (NYSE:PLNT) reported Q2 CY2024 results topping analysts' expectations , with revenue up 5.1% year on year to $300.9 million. It made a non-GAAP profit of $0.71 per share, improving from its profit of $0.46 per share in the same quarter last year.

Planet Fitness (PLNT) Q2 CY2024 Highlights:

• $280 million Accelerated Share Repurchase in second quarter

• Revenue: $300.9 million vs analyst estimates of $290.7 million (3.5% beat)

• EPS (non-GAAP): $0.71 vs analyst estimates of $0.66 (7.7% beat)

• Gross Margin (GAAP): 59.4%, up from 58.7% in the same quarter last year

• Adjusted EBITDA Margin: 42.4%, in line with the same quarter last year

• Free Cash Flow of $40.18 million, down 36.6% from the previous quarter

• Same-Store Sales rose 4.2% year on year (8.7% in the same quarter last year)

• Market Capitalization: $6.30 billion

https://finance.yahoo.com/news/planet-fitness-nyse-plnt-posts-104930702.html

Henry Schein Mixed Q2 Earnings, Cuts Guidance, Warns Slower Recovery From Cyberattack

 Henry Schein Inc (NASDAQ:HSIC) reported a second-quarter adjusted EPS of $1.23, down 6.1% year-over-year, beating the consensus of $1.22.

Sales were $3.10 billion, an increase of 1%, missing the consensus of $3.27 billion.

Sales growth reflects 4.0% growth from acquisitions, a 0.5% decrease resulting from foreign exchange rates, a 0.5% sales decrease from lower sales of personal protective equipment (PPE), primarily the result of lower glove pricing, and the pace of recovery from the cyber incident late last year.

Internal sales decreased by 2.4%, including a 0.5% decrease from lower PPE sales.

Global dental segment sales were $1.9 billion, down 1.7%, and medical segment sales increased by 5% to $1 billion.

Technology and Value-Added Services sales increased 10.8% (internal growth of 3.9%) to $0.2 billion.

“We delivered solid second quarter financial results, including strong operating cash flow, that reflected stable end markets. Gross margin continued to increase, driven by our strategies to expand our high-growth, high-margin products and services and by the successful performance of our recent acquisitions. We are experiencing improving sales trends in our distribution businesses, however, the pace of recovery in these businesses since the cyber incident late last year has been slower than anticipated,” said Stanley Bergman, Chairman and CEO.

Restructuring Plan: Henry Schein announced a restructuring plan that targets $75 million to $100 million in annual run-rate savings.

The company expects to record restructuring charges in the second half of 2024 and 2025.

The company’s board authorized an additional $500 million share repurchase program on July 31, 2024.

Guidance: “Given the challenging economic environment in certain markets, as well as this delay in recovery from the cyber incident, we are updating our 2024 full-year financial guidance,” Bergman added.

Henry Schein expects 2024 sales growth of approximately 4% – 6% over 2023, compared with prior guidance of 8%-10% growth. The previous guidance anticipated a stronger economy and a faster recovery from the cyber incident.

The company sees 2024 adjusted EPS of $4.70-$4.82, compared with prior guidance of $5.00 to $5.16 and the consensus of $5.06.

https://finance.yahoo.com/news/dental-equipment-distributor-henry-schein-134301253.html

Exelixis Application Accepted for Neuroendocrine Tumor Candidate

 The FDA assigned a Prescription Drug User Fee Act target action date of April 3, 2025 –

– Application is based on results from the phase 3 CABINET pivotal trial, in which cabozantinib provided a statistically significant and clinically meaningful improvement in progression-free survival versus placebo –

https://www.businesswire.com/news/home/20240805262570/en

ArgenX upped to Overweight by Barclays

 from Equal Weight 

https://finviz.com/quote.ashx?t=ARGX&ty=c&ta=1&p=d