Butterfly Network (BFLY) Set to Announce Earnings on Friday

Butterfly Network (NYSE:BFLY) will issue its quarterly earnings data before the market opens on Friday, November 1st. Analysts expect Butterfly Network to post earnings of ($0.09) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Butterfly Network (NYSE:BFLY) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Butterfly Network had a negative return on equity of 43.77% and a negative net margin of 153.29%. The company had revenue of $21.49 million during the quarter, compared to analysts’ expectations of $20.06 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. On average, analysts expect Butterfly Network to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Butterfly Network Stock Down 3.7 %

Butterfly Network stock opened at $1.83 on Thursday. Butterfly Network has a 52 week low of $0.67 and a 52 week high of $2.20. The stock has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.21. The company has a market capitalization of $389.01 million, a price-to-earnings ratio of -3.59 and a beta of 2.18.

Analysts Set New Price Targets

Separately, Lake Street Capital began coverage on shares of Butterfly Network in a report on Tuesday, September 10th. They issued a “buy” rating and a $3.00 price objective on the stock.

Insider Buying and Selling at Butterfly Network

In related news, Director Larry Robbins bought 244,774 shares of the stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $1.07 per share, for a total transaction of $261,908.18. Following the completion of the purchase, the director now directly owns 9,955,144 shares of the company’s stock, valued at $10,652,004.08. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joseph Devivo bought 104,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $0.95 per share, with a total value of $98,800.00. Following the acquisition, the chief executive officer now directly owns 7,009,221 shares in the company, valued at $6,658,759.95. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry Robbins purchased 244,774 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $1.07 per share, for a total transaction of $261,908.18. Following the completion of the acquisition, the director now directly owns 9,955,144 shares of the company’s stock, valued at $10,652,004.08. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 27.28% of the company’s stock.

Butterfly Network Company Profile

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.