Butterfly Network (NYSE:BFLY) Azioni

Butterfly Network

Butterfly Network Inc is a digital health business transforming care with handheld, whole-body ultrasound. Powered by its proprietary Ultrasound-on-Chip technology, its solution enables the acquisition of imaging information from an affordable, powerful device that fits in a healthcare professional's pocket with a combination of cloud-connected software and hardware technology that is easily accessed through a mobile application. The company enables the practical application of ultrasound information in the clinical workflow. Butterfly iQ+ is an ultrasound device that can perform whole-body imaging in a single handheld probe using semiconductor technology. With its small, handheld size, low cost, and simple user interface.

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Butterfly Network, Inc. Class A Common Stock

Butterfly Network Inc

William Blair initiated coverage on Butterfly Network Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NASDAQ">BFLY</a>), a digital health company that provides portable, semiconductor-based ultrasound technology <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">and intuitive software</a>.
The company reported a fourth-quarter adjusted loss of 5 cents per share, beating the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of 10 cents</a>.
Sales increased 35% year over year to $22.35 million, beating the consensus of $21.97 million, driven by the recently launched next-generation iQ3 probe&#8217;s higher selling price and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b44038034/butterfly-network-reports-fourth-quarter-2024-financial-results" rel="noreferrer noopener">increased enterprise software revenue</a>.
Product revenue was $14.7 million, an increase of 45% versus the prior year period, driven by the 22% increase in units fulfilled year-over-year and the iQ3&#8217;s higher selling price.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/health-care/25/03/44359442/protalix-biotherapeutics-says-with-debt-fully-repaid-its-well-positioned-to-execute-strategy-through-2025-and-beyond" rel="noreferrer noopener">Protalix BioTherapeutics Says With Debt Fully Repaid, It&#8217;s Well-Positioned To Execute Strategy Through 2025 And Beyond</a>
Butterfly Network expects 2025 sales of $96 million—$100 million, compared to a consensus of $97.80 million and an adjusted EBITDA loss of $37 million—$42 million.
&#8220;Butterfly is pioneering the digital ultrasound market, democratizing access to imaging and expanding its total addressable market (TAM),&#8221; William Blair writes. &#8220;The valuation ascribes only some success in the core point-of-care and hospital markets, but with execution on growth objectives, we believe shares can rise meaningfully.&#8221;
Analyst Andrew Brackmann <a href="https://www.benzinga.com/quote/BFLY/analyst-ratings" target="_blank" rel="noreferrer noopener">initiates with an Outperform</a> rating and notes that the company&#8217;s core business can grow roughly 20% over the next several years and likely closer to a low-to-mid-teens revenue compound annual rate between 2024 and 2030.
The William Blair analyst writes Butterfly&#8217;s homecare business has strong potential to boost revenue and expand market opportunities over the next 12 to 24 months.
While still in its early stages, the analyst sees it as a key growth driver that could become a multi-hundred-million-dollar business within five years. Despite this potential, the share price does not yet reflect these efforts.
Price Action: BFLY stock is up 2.05% at $2.74 at the last check Monday.
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Analyst Color

Health Care

Initiation

Analyst Ratings

General

Butterfly Network Is 'Pioneering Digital Ultrasound Market,' Analyst Says Undervalued Stock Could Rise With Growth Execution

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Lake Street analyst Frank Takkinen initiated coverage on Axogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXGN#NASDAQ">AXGN</a>) with a Buy rating and announced a price target of $30. Axogen shares closed at $17.25 on Friday. <a href="https://www.benzinga.com/quote/AXGN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Craig-Hallum analyst John Wilkin initiated coverage on Personalis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNL#NASDAQ">PSNL</a>) with a Buy rating and announced a price target of $8. Personalis shares closed at $3.63 on Friday. <a href="https://www.benzinga.com/quote/PSNL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Andrew Brackmann initiated coverage on Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) with an Outperform rating. Butterfly Network shares closed at $2.68 on Friday. <a href="https://www.benzinga.com/quote/BFLY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Roth MKM analyst Craig Irwin initiated coverage on EZCORP, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EZPW#NASDAQ">EZPW</a>) with a Buy rating and announced a price target of $16. EZCORP shares closed at $13.45 on Friday. <a href="https://www.benzinga.com/quote/EZPW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Michael Yee initiated coverage on Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) with a Buy rating and announced a price target of $135. Blueprint Medicines shares closed at $89.58 on Friday. <a href="https://www.benzinga.com/quote/BPMC/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BPMC stock? Here&#8217;s what analysts think: 
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<li><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
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Photo: Bigc Studio/Shutterstock.com

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This Blueprint Medicines Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Monday

William Blair analyst Andrew Brackmann initiates coverage on Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) with a Outperform rating.

William Blair Initiates Coverage On Butterfly Network with Outperform Rating

WIIM

Butterfly Network shares are trading lower. The company reported Q4 financial results.

<ul>
<li>Adjusted EBITDA guidance loss of $37 million - $42 million.</li>
</ul>

Guidance

Butterfly Network Expects FY25 Revenue Of $96M - $100M Or Approximately 20% Growth (Est $97.80M)

Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.10) by 50 percent. The company reported quarterly sales of $22.35 million which beat the analyst consensus estimate of $21.97 million by 1.73 percent. This is a 35.33 percent increase over sales of $16.52 million the same period last year.

Earnings

Earnings Beats

Butterfly Network Q4 2024 Adj EPS $(0.05) Beats $(0.10) Estimate, Sales $22.35M Beat $21.97M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) is estimated to report quarterly earnings at $0.27 per share on revenue of $282.62 million. 
• Nordic American Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAT#NYSE">NAT</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $53.07 million. 
• Fluent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNT#NASDAQ">FLNT</a>) is estimated to report quarterly loss at $0.23 per share on revenue of $68.06 million. 
• Recursion Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) is expected to report quarterly loss at $0.41 per share on revenue of $18.17 million. 
• Oxford Square Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OXSQ#NASDAQ">OXSQ</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $9.90 million. 
• Integral Ad Science (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $148.94 million. 
• PAR Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAR#NYSE">PAR</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $99.26 million. 
• ANI Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIP#NASDAQ">ANIP</a>) is expected to report quarterly earnings at $0.31 per share on revenue of $175.12 million. 
• TeraWulf (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $37.36 million. 
• Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) is estimated to report quarterly earnings at $0.90 per share on revenue of $5.80 billion. 
• Rapid Micro Biosystems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPID#NASDAQ">RPID</a>) is expected to report quarterly loss at $0.22 per share on revenue of $7.60 million. 
• FuboTV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $444.91 million. 
• Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) is expected to report quarterly loss at $0.08 per share on revenue of $21.01 million. 
• Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRP#NYSE">NRP</a>) is projected to report earnings for its fourth quarter. 
• Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) is expected to report quarterly loss at $0.37 per share on revenue of $191.93 million. 
• Calumet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is estimated to report quarterly loss at $0.36 per share on revenue of $929.11 million. 
• 1stdibs.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DIBS#NASDAQ">DIBS</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $22.02 million. 
• LandBridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LB#NYSE">LB</a>) is projected to report quarterly earnings at $0.78 per share on revenue of $244.81 million. 
• Fulgent Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGT#NASDAQ">FLGT</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $75.39 million. 
• Owens &amp; Minor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $2.73 billion. 
• Amneal Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRX#NASDAQ">AMRX</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $700.83 million. 
• Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) is likely to report quarterly earnings at $0.44 per share on revenue of $251.03 million. 
• Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) is expected to report quarterly earnings at $3.23 per share on revenue of $1.18 billion. 
• Alpha Metallurgical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) is estimated to report quarterly earnings at $1.12 per share on revenue of $683.10 million. 
• Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $56.24 million. 
• Northwest Natural Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWN#NYSE">NWN</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $395.05 million. 
<h3>Companies Reporting After The Bell</h3>
• BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) is estimated to report earnings for its fourth quarter. 
• Monroe Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCC#NASDAQ">MRCC</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $14.99 million. 
• Longeveron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) is projected to report quarterly loss at $0.36 per share on revenue of $660 thousand. 
• Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) is likely to report quarterly earnings at $0.37 per share on revenue of $45.00 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 28, 2025

U.S. stocks were higher, with the Dow Jones index gaining around 100 points on Thursday.
Shares of International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) gained 12.8% to $174.33 following the release of its fourth-quarter earnings, which surpassed analysts' expectations. The tech giant also unveiled its ambitious artificial intelligence strategy, further boosting <a href="https://www.benzinga.com/25/01/43321676/ibm-reports-q4">investor confidence</a>.
IBM reported earnings per share of $3.92, exceeding the anticipated $3.75. Revenue also edged past forecasts, reaching $17.55 billion compared to the projected $17.54 billion.
IBM shares climbed 13.7% to $259.86 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Tectonic Therapeutic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECX#NASDAQ">TECX</a>) shares jumped 97.5% to $50.80 after interim results showed TX45 achieved improvements in hemodynamics that met and exceeded prespecified objectives.</li>
<li>NetScout Systems, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTCT#NASDAQ">NTCT</a>) gained 19.5% to $26.70 after the company reported better-than-expected quarterly financial results.</li>
<li>Flagstar Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLG#NYSE">FLG</a>) gained 16.6% to $11.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) shares rose 15.4% to $110.40 after the company beat fourth-quarter EPS and revenue estimates, initiated FY25 EPS guidance above expectations and raised its quarterly dividend by 11%.</li>
<li>Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) gained 14% to $4.0000 after the company announced a $75.6 million public offering of class A common stock.</li>
<li>Celestica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) rose 14% to $114.54 following better-than-expected fourth-quarter financial results and first-quarter guidance issued above estimates.</li>
<li>ACM Research, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACMR#NASDAQ">ACMR</a>) shares gained 14% to $19.92 after Kerrisdale Capital announced a long position in the stock.</li>
<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) rose 11.8% to $65.76.</li>
<li>Calix, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) gained 10.5% to $40.76 after the company reported better-than-expected quarterly financial results.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) rose 10.4% to $66.54.</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) gained 8.8% to $47.27 after the company reported better-than-expected quarterly revenue results.</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) gained 8.5% to $221.22 following a fourth-quarter adjusted EPS and revenue beat..</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) rose 7% to $579.97 after the company reported better-than-expected quarterly financial results.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) gained 7% to $4.75 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Domino&#8217;s Pizza, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) climbed 6.6% to $456.16.</li>
<li>Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) rose 5.5% to $164.07 following upbeat quarterly earnings.</li>
</ul>

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Intraday Update

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IBM Posts Upbeat Earnings, Joins Oshkosh, Las Vegas Sands, Nokia, Quest Diagnostics And Other Big Stocks Moving Higher On Thursday

Butterfly Network shares are trading higher. The company announced a $75.6 million public offering.

Butterfly Network shares are trading lower after the company announced a $75.6 million public offering of class A common stock.

Butterfly intends to use the net proceeds from this offering to fund the development and commercialization of new and existing products and services and for general corporate purposes.

Reported Earlier, Butterfly Network Prices $75.6M Public Offering Of 24M Class A Common Stock At $3.15/Share

Butterfly Network shares are trading lower after the company announced a proposed public offering of common stock.

Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) ("Butterfly" or the "Company"), a digital health company transforming care with portable, semiconductor-based ultrasound technology and intuitive software, today announced it has commenced an underwritten public offering of Class A common stock ("Common Stock"). Butterfly also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Common Stock sold in the public offering. All of the shares of Common Stock are being offered by Butterfly.
Butterfly intends to use the net proceeds from this offering to fund the development and commercialization of new and existing products and services, as well as for general corporate purposes.
TD Cowen, William Blair and Lake Street Capital Markets are the bookrunners for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms of the proposed offering.

Offerings

Butterfly Network Announces Proposed Public Offering Of Common Stock; No Size Or Amount Disclosed

Butterfly Network Announced That It Expects To Report Revenue Growth For The Fourth Quarter Ended December 31, 2024 Of Approximately 35% Year Over Year

U.S. stocks were higher, with the Dow Jones index gaining around 100 points on Thursday.
Shares of NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rose sharply in <a href="https://www.benzinga.com/25/01/42758540/us-listed-chinese-ev-startups-clock-delivery-growth-in-december-li-auto-tops-the-chart-mona-m03-spurs-xpeng-nios-onvo-breaches-10000-monthly-delivery-milestone">today's trading session</a>.
Nio said it delivered 31,138 vehicles in December, representing a 72.9% year-over-year surge. Its deliveries surged 38.7% year-over-year to 221,970 vehicles in 2024.
Nio shares jumped 5.7% to $4.6100 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) shares jumped 26.7% to $3.9553.</li>
<li>Nano-X Imaging Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNOX#NASDAQ">NNOX</a>) gained 23.5% to $8.90.</li>
<li>Quantum-Si incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSI#NASDAQ">QSI</a>) jumped 21.4% to $3.2788.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) surged 20.5% to $7.41.</li>
<li>Microvast Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) gained 17.4% to $2.4299.</li>
<li>Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) rose 17% to $4.0200.</li>
<li>Uranium Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UEC#NYSE">UEC</a>) gained 11.4% to $7.45.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) shares surged 10.7% to $24.88 on the heels of a new post from meme stock trader Keith Gill, also known as &#8220;Roaring Kitty." Gill's latest post on X has sparked speculation that the trader could be planning to invest in shares of Unity Software.</li>
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) rose 10% to $10.17.</li>
<li>Recursion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) rose 9.3% to $7.39.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) gained 8.5% to $23.30.</li>
<li>IAMGOLD Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) rose 8.2% to $5.59.</li>
<li>QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) gained 7.5% to $5.58.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) climbed 6.8% to $238.87. Constellation said it won $1 billion in combined contracts by US. General Services Administration.</li>
</ul>
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Nio, Unity Software And Other Big Stocks Moving Higher On Thursday

As of Nov. 25, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Conmed Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNMD#NYSE">CNMD</a>)</h3>
<ul>
<li>On Oct. 30, Conmed reported quarterly earnings of $1.05 per share which beat the analyst consensus estimate of 99 cents per share. &#8220;Our third quarter results were largely in line with our expectations, and we remain focused on getting fully back on offense,&#8221; commented Curt R. Hartman, CONMED&#8217;s Chair of the Board, President, and Chief Executive Officer. &#8220;I am particularly proud of how our teams responded to the disruption from hurricanes Helene and Milton, which temporarily impacted our employees and facilities in the Southeast as well as many of our customers.&#8221; The company's stock gained around 21% over the past month and has a <a href="https://www.benzinga.com/quote/CNMD">52-week high of $117.27</a>.</li>
<li>RSI Value: 70.45&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>CNMD Price Action: Shares of Conmed gained 4.5% to close at $74.91 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Madrigal Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDGL#NASDAQ">MDGL</a>)</h3>
<ul>
<li>On Oct. 31, Madrigal Pharmaceuticals reported better-than-expected third-quarter financial results. Bill Sibold, Chief Executive Officer of Madrigal, stated, &#8220;Our U.S. launch of Rezdiffra is progressing exceptionally well driven by the outstanding execution of our team. Growing adoption by prescribers, broader payer coverage and an increasing number of patients on therapy each contributed to the strong performance. This early success highlights the critical need for effective treatments for moderate to advanced NASH/MASH, which is expected to become the leading cause of liver transplants in the U.S.&#8221; The company's stock gained around 65% over the past month and<a href="https://www.benzinga.com/quote/MDGL"> has a 52-week high</a> of $368.29.</li>
<li>RSI Value: 74.01</li>
<li>MDGL Price Action: Shares of Madrigal Pharmaceuticals gained 5.5% to close at $347.45 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Butterfly Network Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>)</h3>
<ul>
<li>On Nov. 1, Butterfly Network reported better-than-expected quarterly financial results and issued FY24 revenue guidance above estimates. The company's stock gained around 78% over the past month and has a <a href="https://www.benzinga.com/quote/BFLY">52-week high</a> of $3.55.</li>
<li>RSI Value: 72.56</li>
<li>BFLY Price Action: Shares of Butterfly Network fell 1.4% to close at $3.24 on Friday.</li>
</ul>
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Short Ideas

CNMD

MDGL

Top 3 Health Care Stocks That May Dip This Month

U.S. stock futures were higher this morning, with the Dow futures gaining around 150 points on Monday.
Shares of Sapiens International Corporation N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPNS#NASDAQ">SPNS</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/SPNS/earnings">third-quarter financial results</a>.
Sapiens Intl posted third-quarter adjusted earnings of 37 cents per share, missing market estimates of 38 cents per share. The company's quarterly sales came in at $137.03 million versus expectations of $140.07 million.
Sapiens International shares dipped 21.5% to $30.98 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Sky Harbour Group Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYH#NASDAQ">SKYH</a>) shares fell 9% to $10.55 in pre-market trading. Sky Harbour will report its third-quarter financial results on Tuesday, Nov. 12.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) shares dipped 5.7% to $23.05 in pre-market trading after gaining 13% on Friday.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) fell 5.2% to $69.85 in pre-market trading after jumping 30% on Friday.</li>
<li>Xeris Biopharma Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XERS#NASDAQ">XERS</a>) dipped 4.9% to $3.30 in pre-market trading. Xeris Biopharma Holdings posted upbeat quarterly results on Friday.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) declined 4.7% to $15.06 in pre-market trading.</li>
<li>Lifeway Foods, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) declined 4.2% to $22.10 in pre-market trading after falling 8% on Friday.</li>
<li>Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) fell 3.4% to $2.53 in pre-market trading.</li>
</ul>
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</ul>

LWAY

SKYH

SPNS

XERS

Sapiens International Posts Downbeat Results, Joins Sky Harbour And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Butterfly Network shares are trading higher after the company reported better-than-expected Q3 financial results and issued FY24 revenue guidance above estimates.

Guidance
Increased Revenue Guidance and improved Adjusted EBITDA guidance for the Fiscal Year 2024 to:
<ul>
<li>Revenue guidance of $79 million to $81 million or over 20% growth</li>
<li>Improved adjusted EBITDA guidance by $5 million to a loss of $42 million - $40 million</li>
</ul>

Butterfly Network Expects 2024 Revenue Of $79M-$81M Versus Consensus Of $75M-$80M Vs $78.557M Est.

Butterfly Network (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) reported quarterly losses of $(0.08) per share which beat the analyst consensus estimate of $(0.09) by 11.11 percent. The company reported quarterly sales of $20.56 million which beat the analyst consensus estimate of $19.01 million by 8.18 percent. This is a 33.33 percent increase over sales of $15.42 million the same period last year.

Butterfly Network Q3 2024 GAAP EPS $(0.08) Beats $(0.09) Estimate, Sales $20.56M Beat $19.01M Estimate

Small Cap

Opinion

Press Releases

Healthcare AI Adoption Accelerates as Industry Eyes $125 Billion Growth by 2028

Butterfly Network Announces Proposed Public Offering of Common Stock

Butterfly Network Announces Pricing of $75.6 million Public Offering of Common Stock

Butterfly Network to Report Fourth Quarter and Full Year 2024 Financial Results on February 28, 2025

Butterfly Network to Participate at the TD Cowen 45th Annual Health Care Conference on March 3, 2025

Butterfly Network Reports Fourth Quarter 2024 Financial Results

Butterfly Network to Participate at Oppenheimer 35th Annual Healthcare MedTech & Services Virtual Conference on March 18, 2025

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