BVS
Bioventus Inc.
$13.65
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 129.0% above fair value
You pay
$13.65
Bear
$4.77
Fair
$5.96
Bull
$7.15
Bear
$4.77
-65.1%
$0.33 × 14x P/E
Fair
$5.96
-56.3%
$0.33 × 18x P/E
Bull
$7.15
-47.6%
$0.33 × 22x P/E
Adjust Assumptions
18.1x
0.33$
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
41.4x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (7 analysts)
$18.33
Divergence from AlphaVal
67%
Summary
Applying a 18x P/E to adjusted EPS of $0.33, the base-case value is $5.96 per share.
Warnings
Wall Street's average price target is $18.33 (from 7 analysts). Our estimate is 67% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples