(Boursier.com) — Far from straightening up our heads, Sartorius Stedim Biotech falling by more than 6% to 196.5 euros, after collapsing by 15.6% yesterday, sanctioned despite maintaining its annual objectives. The group reported revenues down 8.2% in the first quarter amid weak demand in China. The turnover thus came to 666.9 ME over the period against a consensus of 703.5 ME. Ebitda fell 13.2% to 191 million euros, and the operating margin fell to 28.6%, compared to 30.3% a year earlier.
The pharmaceutical equipment supplier expects a “moderate” first half with an expected improvement during the year. However, he warns of a “possible impact” on his activity from increased geopolitical tensions and the economic slowdown…
Intron Health lowered its price target from 165 euros to 150 euros, the lowest level among analysts listed by ‘Bloomberg’, noting that the company’s equipment sales “are expected to remain weak.” It is “unlikely that the company’s forecasts for 2024 will be met” and another warning on the results could “damage credibility”, adds the broker, to ‘sell’ on the file.
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