Keenan LLC Makes New Investment in Butterfly Network, Inc. $BFLY

Keenan LLC purchased a new stake in Butterfly Network, Inc. (NYSE:BFLY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 89,175 shares of the company’s stock, valued at approximately $339,000.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new position in shares of Butterfly Network during the 3rd quarter worth about $25,000. BNP Paribas Financial Markets increased its position in Butterfly Network by 707.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock valued at $33,000 after buying an additional 14,244 shares in the last quarter. Wisconsin Wealth Advisors LLC bought a new stake in Butterfly Network in the 4th quarter valued at about $38,000. ExodusPoint Capital Management LP acquired a new position in Butterfly Network during the 4th quarter worth approximately $38,000. Finally, Sfmg LLC acquired a new position in Butterfly Network during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Price Performance

BFLY opened at $8.85 on Friday. Butterfly Network, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $8.94. The firm has a market capitalization of $2.25 billion, a PE ratio of -29.50 and a beta of 2.22. The company’s 50-day moving average is $4.93 and its 200 day moving average is $4.16.

Butterfly Network (NYSE:BFLY) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $26.53 million during the quarter, compared to the consensus estimate of $26.08 million. Butterfly Network had a negative return on equity of 34.41% and a negative net margin of 73.63%. As a group, analysts expect that Butterfly Network, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, May 6th. Zacks Research raised Butterfly Network from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Loop Capital set a $5.50 target price on Butterfly Network in a report on Monday, March 2nd. Finally, TD Cowen lifted their price target on shares of Butterfly Network from $4.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.56.

Key Butterfly Network News

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Butterfly said Midjourney Medical’s scanner prototype uses 40 Butterfly Ultrasound-on-Chip imaging modules per system, highlighting a potentially meaningful licensing and commercialization opportunity. Butterfly Network Provides Commentary on Midjourney Medical’s Full Body Ultrasound Scanner Announcement
• Positive Sentiment: News coverage says BFLY surged on the Midjourney scanner launch, with traders reacting to the company’s connection to a high-profile AI medical imaging project. Butterfly Network surges as Midjourney unveils full-body scanner
• Positive Sentiment: The stock has also shown unusually heavy call-option activity, suggesting traders are positioning for further upside on momentum.
• Neutral Sentiment: Butterfly has been listed among the NYSE’s top gainers for multiple days, reinforcing the strength of the recent move rather than signaling a new operational update. AI Medical Tech Stock Butterfly Network (NYSE: BFLY) Makes NYSE Top Gainer List Two Days in a Row
• Negative Sentiment: Despite the excitement, one Zacks note warned that recent earnings estimate revisions do not point to additional fundamental strength, hinting the rally may be ahead of near-term earnings support. Butterfly Network (BFLY) Soars 55.9%: Is Further Upside Left in the Stock?

Insider Activity

In related news, insider Steve Cashman sold 294,680 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $4.66, for a total transaction of $1,373,208.80. Following the completion of the sale, the insider owned 1,630,407 shares in the company, valued at approximately $7,597,696.62. This represents a 15.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.99% of the stock is currently owned by insiders.

About Butterfly Network

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.