Butterfly Network, Inc. (NYSE:BFLY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Butterfly Network, Inc. (NYSE:BFLY) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.00.

A number of brokerages have weighed in on BFLY. Craig Hallum reaffirmed a “positive” rating and issued a $2.00 price target on shares of Butterfly Network in a research note on Monday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, October 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Butterfly Network in a research note on Friday, August 1st. Finally, Wall Street Zen cut Butterfly Network from a “hold” rating to a “sell” rating in a report on Saturday.

Butterfly Network Price Performance

Shares of Butterfly Network stock opened at $2.12 on Friday. Butterfly Network has a 1 year low of $1.32 and a 1 year high of $4.98. The business has a 50-day moving average of $2.14 and a two-hundred day moving average of $2.02. The company has a market capitalization of $534.25 million, a P/E ratio of -6.41 and a beta of 2.65.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Butterfly Network had a negative return on equity of 37.80% and a negative net margin of 90.31%.The business had revenue of $21.49 million for the quarter, compared to analysts’ expectations of $21.23 million. Butterfly Network has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Butterfly Network will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dawn Carfora sold 112,009 shares of Butterfly Network stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $2.69, for a total value of $301,304.21. Following the sale, the director owned 265,505 shares of the company’s stock, valued at approximately $714,208.45. This trade represents a 29.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steve Cashman sold 142,590 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $1.50, for a total value of $213,885.00. Following the transaction, the insider directly owned 2,181,884 shares of the company’s stock, valued at approximately $3,272,826. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 370,628 shares of company stock worth $848,060. 25.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Butterfly Network

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new position in shares of Butterfly Network in the first quarter valued at $44,000. Principal Financial Group Inc. acquired a new stake in Butterfly Network in the first quarter valued at $708,000. Bank of New York Mellon Corp grew its position in shares of Butterfly Network by 33.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,177 shares of the company’s stock valued at $46,000 after acquiring an additional 5,010 shares during the period. Arizona State Retirement System acquired a new position in shares of Butterfly Network during the 1st quarter worth about $91,000. Finally, Csenge Advisory Group increased its stake in shares of Butterfly Network by 96.2% during the 1st quarter. Csenge Advisory Group now owns 36,100 shares of the company’s stock worth $84,000 after purchasing an additional 17,700 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

About Butterfly Network

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.