Butterfly Network, Inc. Expected Third Quarter 2022 Earnings of ($0.24) Per Share (NYSE:BFLY)

Butterfly Network, Inc. (NYSE:BFLY – Get Rating) – Equity research analysts B. Riley released their third quarter 2022 earnings estimates for shares of Butterfly Network in a research note released Monday, 3 october. B. Riley analyst N. Chatterji expects the company to earn ($0.24) per share for the quarter. B. Riley has a “Buy” rating and a price target of $9.50 on the stock. The consensus estimate for Butterfly Network’s current annual earnings is ($0.89) per share. B. Riley also released estimates for Butterfly Network’s fourth quarter 2022 earnings at ($0.28) EPS, fiscal year 2022 earnings at ($0.92) EPS and fiscal year 2023 earnings at ($0.97) EPS.

Butterfly Network Price Performance

NYSE BFLY shares opened at $4.91 on Thursday. Butterfly Network has a 52-week low of $2.31 and a 52-week high of $11.53. The company’s 50-day moving average price is $6.04 and its 200-day moving average price is $4.53.

Butterfly Network (NYSE:BFLY – Get Rating) last released its quarterly earnings data on Wednesday, August 3. The company reported ($0.18) EPS for the quarter, beating analyst consensus estimates of ($0.27) by $0.09. The company had revenue of $19.22 million for the quarter. Butterfly Network had a negative net margin of 159.44% and a negative return on equity of 25.69%. In the same period a year earlier, the company posted ($0.19) earnings per share.

Insiders place their bets

In other Butterfly Network news, insider Darius Shahida sold 20,139 shares of the company in a trade dated Monday, September 19. The shares were sold at an average price of $5.49, for a total transaction of $110,563.11. Following the sale, the insider now directly owns 656,793 shares of the company, valued at approximately $3,605,793.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders sold 26,408 shares of the company valued at $142,539 in the past ninety days. Insiders hold 42.11% of the shares of the company.

Institutional investors weigh in on Butterfly Network

Several hedge funds have recently changed their holdings in BFLY. Baldwin Brothers LLC MA increased its stake in Butterfly Network shares by 500.0% during the 1st quarter. Baldwin Brothers LLC MA now owns 6,000 shares of the company worth $29,000 after purchasing an additional 5,000 shares in the last quarter. Madison Asset Management LLC acquired a new stake in shares of Butterfly Network in the second quarter worth approximately $31,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Butterfly Network in the second quarter worth approximately $31,000. TownSquare Capital LLC acquired a new stake in shares of Butterfly Network in the second quarter worth approximately $32,000. Finally, Creative Planning acquired a new stake in shares of Butterfly Network in the second quarter worth approximately $33,000. 49.29% of the shares are held by institutional investors and hedge funds.

Butterfly Network Company Profile

(Get a rating)

Butterfly Network, Inc, a digital health company, develops, manufactures and markets ultrasound imaging solutions in the United States and around the world. It offers Butterfly iQ, a portable, single-probe whole-body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects to a smartphone, tablet and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates with the clinical and administrative infrastructure of a healthcare system.

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