Stock Track | Bioventus Plunges 36% as Divestiture Costs Weigh on Q3 Results

Stock Track11-05

Bioventus Inc. (BVS) shares plummeted over 36% in early trading on Monday, despite the medical device company reporting better-than-expected revenue and adjusted earnings for the third quarter of 2024.

The steep sell-off was driven by Bioventus reporting a massive net loss of $113.5 million for the quarter, largely due to one-time charges and impairment costs related to the company's decision to divest its Advanced Rehabilitation business.

Bioventus recorded a $78.6 million non-cash impairment charge for intangible assets in the Advanced Rehabilitation unit during the quarter. The company also incurred $7.1 million in financial restructuring costs and $4 million in acquisition and integration expenses.

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(BVS) shares plummeted over 36% in early trading on Monday, despite the medical device company reporting better-than-expected revenue and adjusted earnings for the third quarter of 2024.</p>\n\n<p>The steep sell-off was driven by Bioventus reporting a massive net loss of $113.5 million for the quarter, largely due to one-time charges and impairment costs related to the company's decision to divest its Advanced Rehabilitation business.</p>\n\n<p>Bioventus recorded a $78.6 million non-cash impairment charge for intangible assets in the Advanced Rehabilitation unit during the quarter. 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(BVS) shares plummeted over 36% in early trading on Monday, despite the medical device company reporting better-than-expected revenue and adjusted earnings for the third quarter of 2024...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BVS","symbol_name":"Bioventus Inc.","start_time":0,"source_url":"","article_id":"1165016871","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1165016871","pubTimestamp":1730817486,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Bioventus Inc.  shares plummeted over 36% in early trading on Monday, despite the medical device company reporting better-than-expected revenue and adjusted earnings for the third quarter of 2024.The steep sell-off was driven by Bioventus reporting a massive net loss of $113.5 million for the quarter, largely due to one-time charges and impairment costs related to the company's decision to divest its Advanced Rehabilitation business.Bioventus recorded a $78.6 million non-cash impairment charge f","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BVS":"Bioventus Inc."},"translate_title":"由于剥离成本影响第三季度业绩，Bioventus股价暴跌36%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BVS":1},"content_text":"Bioventus Inc. 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