Sales beat, outlook hike lift Biomerieux shares

Biomerieux SA

05/09/2024 08:59

** Shares in Biomerieux  BIOX.PA  rise 3.4% as the French
biotechnology company publishes better-than-expected H1 results,
ups guidance  
    ** The group reports sales of 1.9 billion euros for the
first half of 2024, a 8.2% beat when compared to a consensus
cited by a Midcap analyst
    ** "The achievement fully illustrates the increasing
strength of the installed base and the solid execution of the
cross-selling strategy," Midcap analyst says in a note
    ** Biomerieux also revises upwards its full-year outlook
with sales now expected to grow by 8%-10% (6%-8% initially),
contributive EBIT of 12% to 17% (at least +10% initially)
    ** Jefferies sees the launch of SPOTFIRE, Biomerieux
point-of-care (POC) molecular diagnostic system that detects
respiratory pathogens, as encouraging, saying it should gain
traction in the POC market segment after 33 million euros of
sales in the first half of 2024
    ** Shares in Biomerieux reach their highest price since
April 12
    

 (Reporting by Mathias de Rozario)
 ((mathias.derozario@thomsonreuters.com))