Bioventus falls on wider Q1 loss

Bioventus

17/05/2023 15:18

** Shares of medical device maker Bioventus Inc  BVS.O  fall
5.8% to $1.13
    ** Co reports wider Q1 adj. loss of 26 cents per share vs
analysts' estimate of 15 cents loss - Refinitiv data
    ** Co hurt by non-cash impairment charge related to its
Wound business write-down
    ** Co expects to achieve core earnings of at least $68 mln
for 2023, excluding Wound business
    ** Brokerage Craig-Hallum cuts PT to $2 from $5
    ** Including session's loss, stock has fallen 55.94% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))