Bernstein expects a 'not so scary' Q3 for US life sciences firms

Pacific Biosciences of California

16/10/2024 11:50

** Brokerage Bernstein expects a "not so scary" Q3 earnings
season for U.S. life sciences and tools firms, which "would be a
real treat" for investors 
    ** "With the recovery timeline for life science tools
continuing to push out (further), some investors feel like they
have been tricked one too many times," brokerage says 
    ** Bernstein says medical instrument heavy firms Agilent
 A.N  and Waters  WAT.N  are better placed for Q3, with sales
and demand in China showing signs of recovery 
    ** Brokerage expects a "mixed" Q3 for Thermo Fisher  TMO.N ,
Revvity  RVTY.N  and Avantor  AVTR.N  
    ** Says AVTR could be hurt by customers working through
existing inventory; expects Q3 beat for TMO, but modest raise to
annual forecast
    ** YTD, Agilent shares up 4%, WAT and AVTR up 9%, TMO up 13%
and RVTY up ~14%
    ** S&P 500 life sciences tools and sevices subindex
 .SPLRCLSCI  has risen 9% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))