Sartorius slides on Q1 orders miss

Sartorius AG

18/04/2024 07:37

** Shares of Sartorius  SATG.DE  slide 5.7% in early
Frankfurt trade after the Franco-German lab supplies maker
published Q1 numbers that missed analysts' expectations for
order intake and revenues
    ** "Would sell high prints as order intake expectations were
high," a local trader says, adding the company did not fulfill
hopes
    ** "We expect the shares to underperform by at least 5%
today," says J.P. Morgan, citing Q1 weak BPS orders, which came
in 10% below the expectations of the brokerage
    ** The broker also mentions soft quarter on Bioprocess
Solutions (BPS) revenues, which declined by 5% CER and missed by
5%
    ** The company Q1 order intake came in at 826.3 million
euros
    ** The stock is at the bottom of the German blue-chips index
 .GDAXI 

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))