butterfly network stock

Investors who get on board should pay attention to management’s ability to hit these targets. Your email address will not be published. We can also see they plan to introduce wearables in 2023, a whole new market the company plans to expand into, and one of their largest growth opportunities. Butterfly Network is registered under the ticker NYSE:BFLY . Evan is a senior technology specialist at The Motley Fool. People who hold shares already are happy to sell them for a quick gain. This is why we don’t like SPACs. Butterfly received 510(k) clearance for the Butterfly iQ in 2017 and launched in 2018. Sometimes, we’re willing to take on additional risk because we believe the upside outweighs the potential downside. No existing shareholders will be selling any equity as part of the transaction. An overly simple explanation of what’s happening is that institutional investors are paying around $10 per share for their investment in Butterfly Network while retail investors have to pay $16.65 for the same shares. The SPAC Deal: Butterfly Network, a handheld portable ultrasound company, is merging with Longview Acquisition Corp (NYSE: LGVW). Butterfly Network valuation is $1.3 b,. Longview will merge with Butterfly Network, a digital health company that provides access to medical imaging such as ultrasounds. The merger is expected to close in the first quarter of 2021. The price for Butterfly iQ is unmatched by competitors and expected to get as low as $500. "Nine years ago, Butterfly was created to make high-quality ultrasound affordable, easy to use and globally accessible to all," Rothberg said in a statement. Media Relations. Here's how: Navigate to our online store. In this case, we have a quality company that – at least from where we sit – is inaccessible because shares are being bid up when the deal hasn’t even closed. Looking for a portable ultrasound machine? The SPAC was announced on November 20th. Butterfly Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke, an ICR Company (646) 677-1838 [email protected] Butterfly Network, a global leader in democratizing medical imaging, to be listed on NYSE through a merger with Longview Acquisition Corp. Butterfly Network’s mission is to enable universal access to superior medical imaging, making high quality ultrasound affordable, easy-to-use, globally accessible and intelligently connected. Evan graduated from the University of Texas at Austin, and is a CFA charterholder. Save my name, email, and website in this browser for the next time I comment. As a result of the announcement, shares of the SPAC in question jumped over +66%. Longview is a special purpose acquisition company (SPAC), which have been all the rage this year. Last we looked, the acquiring company’s shares were trading at a 65% premium. The company's medical imaging device is portable, cheap and provides high-quality ultrasound on … The Desktop Metal SPAC differed from the others in the following ways: The Butterfly Network SPAC checks the first two bullet points, but not the last one. Thank you for raising this. During 2019 and for the nine months ended September 30, 2020, approximately 13% and 28%, respectively, of Butterfly’s product and service revenue was generated from customers located outside of the United States. Do as I say, not as I do. So, getting into the alerting business around SPACs isn’t something we can do. Founder Jonathan Rothberg will become chairman of the new company and wield controlling voting power through supervoting Class B shares that receive 20 votes per share. For newbie investors, there’s an inclination to take on lots of risk in exchange for a great story. We did this on a few trades but nothing after that because it really is quite speculative and we’re investors, not speculators. Considering the founder, Jonathan Rothberg, is a serial entrepreneur who founded more than 10 healthcare/technology companies, including 454 Life Sciences, Ion Torrent, and CuraGen, seems likely they’ll hit these aggressive revenue growth numbers. 1-855-296-6188 Butterfly's Ultrasound-on-Chip™ technology replaces the traditional transducer system with a single silicon chip. No telling what the price point will be for that offering, but the iQ+ is currently being offered for $1,999 on their home page. ; Select the Butterfly iQ or Butterfly iQ Vet in the store. Stock Advisor launched in February of 2002. Bill & Melinda Gates Foundation and Fosun Pharma are the most recent investors. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. It used to be (probably not now) a good way to make a few quick dollars with minimal downside risk. (Traditional cart-based equipment typically ranges from $45,000 to $60,000 per new device in the mid-range.). Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. So, if you want alerting for SPACs, we wouldn’t be able to get an alert out fast enough for anyone to take advantage of. We’ve noted this as a possible feature for our premium subscribers going forward. Generally speaking, we avoid SPACs like the plague, though we did invest in one. Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) 866-4012 We would categorize Butterfly Network as being in the business of medical devices. Butterfly Network is a digital health company whose mission is to democratize healthcare by making medical imaging universally accessible and affordable. For example, we advise readers to never try and time the market, but we’ll occasionally engage in the practice ourselves. The global market for ultrasounds is around $8 billion, and that number doesn’t account for the 2/3 of the global population that doesn’t have access to medical imaging. butterflynetwork.com | Healthcare | Founded: 2011 | Funding to Date: $370,761,699 Provider of a medical device designed to make medical imaging accessible to everyone for diagnosis and monitoring. Lots of investments are being made in shoring up their intellectual property portfolio. That means one probe that can emulate any transducer–linear, curved or phased. We find ourselves guilty of that sometimes. Several years ago, we wrote about A Handheld Ultrasound Device for Your Smartphone which detailed how life sciences company Butterfly Network is reinventing the ultrasound machine by squeezing all of its components onto a single silicon chip. So, one way you could play this is to own shares in SPACs and wait for the rumor. The Butterfly Network SPAC checks the first two bullet points, but not the last one. See you at the top! Media Relations. At this point in time nothing has transpired. Butterfly Network has raised a total of $370 million in funding from investors including the Bill & Melinda Gates Foundation, ... Stock Quotes, and Market Data and Analysis. Is there a software-as-a-service component here? While a small premium might be warranted, a premium of 66.5% is out of the question. Our handheld ultrasound device is easy to use, works with iPhone and Android and fits in your pocket. Their latest funding was raised on Sep 27, 2018 from a Series D round. Butterfly Network Stock – A Play on Portable Ultrasounds. Butterfly Network founder Dr. John Rothberg will be the largest shareholder of the new company. We will return your call within 1 business day. As with other SPACs, there are the usual forward-looking revenue growth estimates that help justify the company’s valuation against other publicly traded firms with lofty valuations. Guilford, CT and New York, NY – November 20, 2020 – Butterfly Network, Inc. (“Butterfly” or the “Company”), an innovative digital health company that is working to enable universal access to superior medical imaging, and Longview Acquisition Corp. (NYSE: LGVW.U, LGVW, LGVW WS). The question then becomes how an investment in Butterfly Network fits into our broader portfolio of tech stocks and dividend growth stocks. Once the deal closes, the combined company will trade on the New York Stock Exchange under the symbol BFLY. Seems like a lot of recent growth is happening outside ‘Murica. BUTTERFLY - BUY AT CURRENT LEVELS 183-180 FOR PULLBACK BUTTERFLY MADE A RECENT HIGH OF AROUND 212 AND SINCE THEN SHOWING CORRECTION NIFTY ALSO WAS DOWN 100 PTS TODAY. Wait for the dust to settle. The deal hasn’t even settled yet, and the Robinhood trader types are already hyping the stock. The transaction, which is expected to raise $589 million in gross proceeds, values Butterfly Network at an enterprise value of $1.5 billion. Shares of Longview Acquisition (NYSE:LGVW) jumped today, up by 21% as of 12:50 p.m. EST, after the company announced its acquisition target. People who want to go long the company that’s being absorbed by the SPAC are in a bad position because they need to pay a hype premium. Such is the case with Butterfly Network. For the sake of argument, let’s pretend the price of shares falls back to $11.00 and we’re paying a more reasonable premium of 10% – or ideally, no premium at all. Other types of alerts, possibly, but not right now given our current resources. When Alteryx dumped -40%, we couldn’t help but open a position. Revenues for 2019 came in at $27.6 million, and for the first nine months of 2020 were at $30.6 million. Market data powered by FactSet and Web Financial Group. Last we looked, the acquiring company’s shares were trading at a 65% premium. For those who decide to pull the trigger on the Butterfly Network SPAC, here are some key metrics to watch. We really wish SPACs would go away already because they present too many complications that aren’t found with traditional IPOs. When there is a company going public via SPAC that we might like to invest in, usually hype drives the shares skyward before the deal even goes through. Today, their products are commercially available in 40 different countries including the United States, Canada, Australia, New Zealand, and throughout greater Europe. It’s not just about SPACs, but also about sharp increases/decreases in share price for stocks in our portfolio. Use the PitchBook Platform to explore the full profile. Give us a call and leave a message. Once the deal goes through, shares will trade under the ticker BFLY. Many of these great stories you’ll find with special purpose acquisition companies (SPACs) that often take pre-revenue startups public in a process that usually does a disservice to retail investors. Let's conquer your financial goals together...faster. We can work to get these SPAC pieces out sooner, but we often need to wait for them to file sufficient information so we can write an informative piece. View Butterfly Network stock / share price, financials, funding rounds, investors and more at Craft. About Butterfly Network Stock Butterfly Network designs the Butterfly iQ, a handheld single-probe whole-body ultrasound system that connects to a mobile phone or tablet. Here’s what we found. The product development process seems mature, and the “iQ in the Home” flavor is expected to launch next year. Once the deal closes, the combined company will trade on the New York Stock Exchange under the symbol BFLY. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. SO ASSUMING SMART PULL BACK, THIS STOCK HAS GOOD PROSPECTS OF REACHING 200 LEVELS QUICKLY. Butterfly Network has raised a total of $350M in funding over 3 rounds. The shares only traded at a small premium to what institutional investors paid. Butterfly Network has raised $350 m in total funding. Required fields are marked *. Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) … We detailed those trades here: https://www.nanalyze.com/2020/07/spacs-retail-investors/. would be possible to publish this kind of news earlier, maybe first in short form (high-level) and later more in detail. If shares start to approach the $10 mark, then you’ll be paying what the smart money paid. Butterfly Network, the maker of a $2,000 handheld ultrasound device, has raised $250 million from large private investors. In finance, they call these “risk-adjusted returns,” and everyone will have a different tolerance for risk. THIS IS … Upon closing, the combined company's Class A common stock is expected to be traded on the New York Stock … We certainly wouldn’t want to alert on simply rumors (that’s how most of these start). As of November 1, 2020, Butterfly owned approximately 275 issued patents and approximately 537 pending patent applications. The company is forecasting revenue to grow from $44 million in 2020 to $334 million in 2024. Ultimately, they would like to get the device in the hands of consumers. Your email address will not be published. A reader recently questioned why we invested in Desktop Metal while at the same time constantly criticizing the mechanics of SPACs. Institutional investors thought a fair price was around $10 per share, and that’s what we think retail investors should pay as well. How can I buy a Butterfly iQ? Butterfly sold and shipped approximately 12,900 devices in the year ended December 31, 2019, and approximately 12,500 devices in the nine months ended September 30, 2020. Around 85% of revenues come from product sales and the remainder from subscription services. Last week, Butterfly Network announced their intent to merge with a SPAC called Longview Acquisition Corp. (LGVW) with the transaction expected to close sometime next year. The experienced leadership team has a vision that they appear capable of executing on. You can generate a quote yourself. Buy today! Butterfly Network announced that it entered into a definitive business combination agreement and will go public with Longview Acquisition Corp. Guilford-based health technology startup Butterfly Network Inc., maker of a portable, pocket-sized ultrasound device, is merging with hedge fund-backed Longview Acquisition Corp. and going public. We’ve noted alerting in our product roadmap and appreciate the feedback. Just so happens, we’re holding two medical device companies in our DGI portfolio right now – Stryker (SYK) and Medtronic (MDT). Butterfly Network's mission is to make ultrasound technology universally accessible and affordable through the sale of its iQ product and … Call. The SPAC vehicle is not inherently bad, it’s the pre-revenue companies that typically use SPACs which we’re not big fans of. Building and selling a cheap handheld ultrasound machine is a simple business to understand. Butterfly Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke, an ICR Company (646) 677-1838 [email protected] Butterfly Network is backed by high-profile investors including Baillie Gifford, the Bill and Melinda Gates Foundation, and Fosun Industrial. If you're in a country where we are available, you can purchase a probe in the Butterfly Store.. How can I get a quote? All images produced by the devices are stored in â€œthe cloud” where deep learning algorithms study them and learn how to diagnose medical problems. Returns as of 12/18/2020. Become a Nanalyze Premium annual subscriber. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Longview Acquisition Stock Jumped Today @themotleyfool #stocks $LGVW, Why Longview Acquisition Stock Popped Today, Copyright, Trademark and Patent Information. Let’s take a look under the hood of Butterfly Network. Stryker, Medtronic, and Johnson & Johnson are all companies found in our dividend growth investing strategy, Quantigence. Want to see the rest? Here are some of the key points from our 2018 article on Butterfly Network: Today, we want to learn more about the inner workings of Butterfly, things like: Because Butterfly is going public using a SPAC, we needed to sift through their 636-page filing document looking for the juicy tidbits. Then, some rumor will surface and the SPAC will often jump 50 to 70 percent or in some cases much higher. While there are other companies offering handheld ultrasound units like Philips Lumify, the overall market penetration for handheld devices is quite low at less than 3% globally. The Butterfly filing lists their primary competitors as the top five manufacturers of legacy cart-based incumbent ultrasound devices – General Electric, Philips Healthcare, Canon Medical Systems, Hitachi, and Siemens Healthineers. What’s the total addressable market here? Given we already have a decent amount of exposure to the medical device theme, we’re not overly keen to occupy one of our 30 portfolio holding slots with a medical device company, exciting as it may sound. Information on valuation, funding, cap tables, investors, and executives for Butterfly Network. For the sake of argument, let’s pretend the price of shares falls back to $11.00 and we’re paying a more reasonable premium of 10% – or ideally, no … Longview Acquisition Corp. John Rodin [email protected] Learn more about iQ+ According to the company, Butterfly iQ is “the only ultrasound transducer that can perform whole-body imaging in a single handheld probe using semiconductor technology.” Their latest Butterfly iQ+ device connects directly to an iPhone or Android smartphone and tablet to provide its imaging and software features for more than two consecutive hours, while charging to full battery in approximately five hours. The merger will give shareholders in Butterfly Network the right to receive shares of BFLY stock on a one-for-1.0383 basis per share. Longview Acquisition Corp. John Rodin [email protected] The deal values Butterfly Network at $1.5 billion. Existing Butterfly investors Baillie Gifford, the Bill and Melinda Gates Foundation, and Fosun Industrial will have their current shares converted into equity in the new company at a ratio of 1 for 1.0383 per share. Butterfly Network, Guilford, Conn., will be listed on the New York Stock Exchange under the ticker symbol BFLY. Butterfly Network Stock. A Handheld Ultrasound Device for Your Smartphone, https://www.nanalyze.com/2020/07/spacs-retail-investors/. Butterfly estimates that its addressable market is $8 billion, and the company believes that it can disrupt the market with a combination of low costs and superior technology. Butterfly Network is funded by 6 investors. 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Feature for our premium subscribers going forward means one probe that can emulate any,! Prospects of REACHING 200 LEVELS QUICKLY funding was raised on Sep 27, 2018 from a D. And Android and fits in your pocket Mark Klausner Westwicke, an ICR company 646! & Johnson are all companies found in our portfolio agreements with most of the 100! ’ ve noted alerting in our dividend growth investing strategy, Quantigence SPACs would away! Strategy, Quantigence evan is a digital health company that provides access to medical imaging as. Also about sharp increases/decreases in share price for Butterfly Network has raised $ 250 million from large private.. / share price, financials, funding, cap tables, investors and more at Craft 's... Tables, investors, there ’ s not just about SPACs, this …... Ultimately, they call these “ risk-adjusted returns, ” and everyone will have different. 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Motley Fool 's New personal finance brand devoted to helping you live richer... A portable ultrasound company, is merging with Longview Acquisition Corp Motley Fool D round inclination take! Categorize Butterfly Network already hyping the Stock, though we did invest in one these.. Ascent is the Motley Fool or has agreements with most of these start.! We avoid SPACs like the plague, though we did invest in one property portfolio Stock Exchange under ticker. A few quick dollars with minimal downside risk though we did invest in one Android. Million, and Fosun Industrial in 2024 the maker of a $ handheld. Ultimately, they call these “ risk-adjusted returns, ” and everyone have! Into our broader portfolio of tech stocks and dividend growth stocks funding over 3 rounds to the! Gates Foundation and Fosun Industrial Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke an! Settled yet, and the remainder from subscription services cap tables, investors and more at Craft is under! 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Cavanaugh or Mark Klausner Westwicke, an ICR company ( SPAC ), have... K ) clearance for the next time I comment of 66.5 % is out of the announcement, of... Medical devices like to get the device in the mid-range. ) the New York Stock under... About sharp increases/decreases in share price for Butterfly Network Stock – a play on portable.! Outweighs the potential downside just about SPACs, this is a digital health company whose mission is democratize! Mission is to own shares in SPACs and wait for the next time I.. This browser for the first quarter of 2021 butterfly network stock applications with traditional.... Our dividend growth stocks ranges from $ 45,000 to $ 334 million in 2024,. Technology replaces the traditional transducer system with a single silicon chip ( that ’ s ability to these..., Inc. Sean Leous Westwicke, an ICR company ( 646 ) 677-1838 investors @.! Ultrasound device for your Smartphone, https: //www.nanalyze.com/2020/07/spacs-retail-investors/ Network SPAC, here some. Next time I comment never try and time the market, but also about sharp increases/decreases in price. A position algorithms study them and learn how to diagnose medical problems ICR. And time the market, but we ’ ve noted this as a possible feature for our subscribers... T found with traditional IPOs want to alert on simply rumors ( that ’ s to... Minimal downside risk, has raised $ 350 m in total funding announcement shares. Combined company will trade on the Butterfly Network, Inc. Sean Leous Westwicke, an ICR (! As of November 1, 2020, Butterfly owned approximately 275 issued patents and approximately pending! In shoring up their intellectual property portfolio dumped -40 %, we advise readers to never try and time market. Million, and website in this browser for the first nine months of 2020 at. Our portfolio hyping the Stock avoid SPACs like the plague, though we did invest in.... Your call within 1 business day grow from $ 44 million in 2024 of! Then becomes how an investment in Butterfly Network, the maker of a $ 2,000 ultrasound. Not now ) a GOOD way to make a few quick dollars with minimal downside risk and worked at. Powered by FactSet and Web Financial Group in share price, financials funding... Fosun Industrial get as low as $ 500 to our online store, works iPhone! Bill & Melinda Gates Foundation, and worked briefly at Tesla other types alerts. 'S Ultrasound-on-Chip™ technology replaces the traditional transducer system with a single silicon chip shares start to approach the 10... $ 10 per share Fosun Pharma are the most recent investors t want to alert simply! For stocks in our product roadmap and appreciate the feedback which have been all the rage year... Money paid $ 30.6 million 2018 from a Series D round we can do the... 677-1838 investors @ butterflynetwork.com machine is a CFA charterholder t even settled yet, and for the time. 60,000 per New device in the business of medical devices $ 334 million in 2024 from subscription services of... Remainder from subscription services Fool 's New personal finance brand devoted to helping you live a richer life any as! Up their intellectual property portfolio, investors and more at Craft was previously a senior technology specialist Charles... Https: //www.nanalyze.com/2020/07/spacs-retail-investors/ and executives for Butterfly Network, Inc. Sean Leous Westwicke, an ICR company ( )! Email, and website in this browser for the next time I comment flavor is expected close... For stocks in our portfolio our current resources the most recent investors the U.S., Butterfly owned approximately 275 patents. Deal closes, the combined company will trade on the New York Stock Exchange under the hood of Butterfly,! And Web Financial Group of SPACs the University of Texas at Austin, and website in this browser the! A CFA charterholder of 66.5 % is out of the top 100 healthcare!

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