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bioMerieux’s Q3 sales came in below the consensus estimates. However, routine testing continued to witness sustained momentum with healthy growth across the board. While the overall growth was partially impacted by weaker respiratory sales, the 2023 guidance (still better vs. AV peers) was maintained. Overall, taking into account healthy routine testing market dynamics along with the new product launches being planned to leverage the high installed base and supported by a robust balance sheet, o
Companies: BioMerieux (BIM:EPA)bioMerieux SA (BIM:PAR)
AlphaValue
bioMerieux’s Q2 performance was supported by resilient growth across both segments with the routine testing business witnessing healthy momentum. However, higher sales & marketing expenses weighed on profitability. Meanwhile, management reiterated its 2023 guidance. Overall, with promising testing market dynamics along with an encouraging start for its new product launches and anticipated approvals, our positive recommendation is reiterated.
bioMerieux reported healthy Q1 23 sales, with organic sales witnessing high single-digit growth. As expected, robust momentum was witnessed for the non-COVID-19 businesses. Management also reiterated its 2023 guidance. Overall, considering that non-COVID-19 testing tailwinds are expected to remain resilient, along with sustained innovation and expansion into point of care testing, our positive recommendation is maintained.
bioMerieux released in line Q4 sales numbers, with healthy growth being witnessed across the board. Importantly, the recent spike in influenza infections, respiratory syncytial virus and higher COVID-19 infections resulted in strong demand for respiratory panels. While COVID-19 testing tailwinds are expected to further moderate in the coming quarters, the 2023 guidance remains unchanged, reflecting a healthy outlook for the non-COVID-19 offerings. Overall, considering a slew of launches accompan
bioMerieux’s Q3 sales came in ahead of both AV and consensus expectations. While COVID-19 testing sales continued to weaken (also a sector-wide trend), healthy developments were witnessed in the non-COVID space. Moreover, management also (marginally) improved its 2022 sales growth guidance. Considering that non-COVID testing tailwinds are expected to remain resilient and the re-emerging M&A rumours – given the material sell-off over the past couple of months – our positive recommendation is reit
bioMerieux reported strong Q2 22 sales. Positive momentum was witnessed in Molecular Biology, Microbiology and Industrial Application. Moreover, the recent spike in COVID-19 cases and higher flu market opportunities in the US resulted in strong demand for respiratory panels. Management also (marginally) improved its 2022 guidance. Add on top, notable progress in offering innovation terms and promising testing market dynamics, the sell-off in recent months is worth capitalising.
bioMerieux reported weak Q1 22 sales, with organic sales witnessing a mid-single-digit decline. As expected, COVID-19 testing sales moderated while positive momentum was witnessed across the Microbiology and Industrial segments. Management also reiterated its 2022 guidance. While our estimates should reset marginally lower, the MedTech sell-off in recent months has reinstated the attractiveness of the likes of bioMerieux, especially considering the long-term non-COVID testing market business opp
bioMerieux ended 2021 on a healthy note, with impressive sales and profitability, driven by promising dynamics across segments. This also resulted in impressive dividend growth. While 2022 guidance was on the weaker side – due to fading COVID-19 testing tailwinds, and increasing costs (partly also due to post-pandemic normalisation), it wasn’t a big surprise. While our estimates could reset marginally lower, the sell-off in recent months opens an attractive opportunity, also with respect to M&A
bioMerieux reported healthy Q3 results, with growth across the board. Interestingly, both COVID-19 and routine businesses were beneficiaries in varying degrees. As a result, management upgraded its FY2021 sales growth and profitability guidance. Besides these results reinforcing our positive stock recommendation, they are also an important read-across for testing firms, wherein their ability to withstand erosion in COVID-19 testing via a recovery in routine areas has been a comforting developmen
Despite further normalisation in FilmArray, bioMerieux witnessed recovery/ healthy momentum in most other routine areas. Although, as expected, group-wide sales growth moderation was evident. Importantly, profitability came in ahead of (consensus) expectations due to temporarily lower costs. While the worsening COVID-19 situation, especially in the US, may render some near-term support to FilmArray, the rebound in routine businesses is a major promising signal. Our positive stock recommendation
Organic sales growth decelerated in Q1 21 as demand for FilmArray’s respiratory panel slowed in the US towards the end of the quarter. As the health situation improves in the US, demand for PCR-based testing could decline in the coming quarters. Ergo, FY21 sales guidance has been slashed. The entry of Roche in the syndromic testing space, through GenMark, is also a threat, though the recovery in the routine testing business provides some respite.
Benefitting from sustained demand for COVID-19 testing solutions, bioMerieux reported another quarter of double-digit growth in Q4 20. Interestingly, the FY20 targets were exceeded, both on the sales and profitability front, and management has proposed a dividend of €0.62 per share (vs. FY18: €0.35). The FY21 guidance is also encouraging and growth is likely to be front-end loaded. bioMerieux is banking on its menu-expansion strategy to bolster growth for FilmArray once COVID-19 subsides, but so
The Q3 outperformance was led by the FilmArray product line which benefited from exceptional demand for molecular-based COVID testing and increasing instrument placements. The Industrial applications segment also returned to growth. Although the routine testing businesses saw an improvement, it continues to trade in the red and, as hospital traffic remains subdued, uncertainty remains with respect to a full recovery. Nonetheless, the FY20 guidance implies that organic sales growth could reach a
Companies: bioMerieux SA (BIM:PAR)bioMerieux SA (0RUG:LON)
Despite lower revenue in the microbiology and immunoassays businesses due to a decline in routine testing, bioMerieux reported double-digit organic revenue growth in H1, led by robust demand for COVID-19 tests in the molecular biology business. The resulting operational leverage, favourable product mix and lower selling expenses led to a profitability beat in H1. The favourable sales trend witnessed in H1 should continue in the second half, though the same trend cannot be extrapolated to FY21 ac
Companies: bioMerieux SA
Q2 sales were slightly ahead of expectations led by continued demand for molecular biology product lines used in COVID-19 testing. However, the momentum decelerated compared to the previous quarter as the situation worsened in the microbiology and immunoassays businesses – due to less patient traffic in hospitals and the resulting decline in routine testing. Though the company witnessed an improvement in these businesses during the last few weeks of Q2, returning to pre-COVID levels could take t
Research Tree provides access to ongoing research coverage, media content and regulatory news on bioMerieux SA. We currently have 0 research reports from 4 professional analysts.
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Cavendish
Verici’s $8.2m gross raise means the company can now focus on scaling Tutivia and invest further into the development of existing and new products. With a uniquely well balanced Tutivia test, a growing sales team and LCD coverage expected later this year, we forecast Tutivia revenues of $2.6m/$4.5m in FY24E/FY25E. The Thermo Fisher deal was a huge validation of Clarava and Verici’s technology and in addition to licensing/milestone payments, we forecast double digit royalties on net Clarava sales
Companies: Verici Dx Plc
Singer Capital Markets
26th March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object
Companies: BIRD MBH CHRT INSE KMK FNTL HDD JNEO CCS
Hybridan
Companies: Aptamer Group Plc
Turner Pope Investments
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Hardman & Co
SkinBioTherapeutics has reported on the 6-months to December 2023, noting steady revenue growth from lead product AxisBiotix-Ps, progress on the development of SkinBiotix with partner Croda (Sederma) and post-period end, the acquisition of Dermatonics. The company has updated on several positive developments through the start of 2024, including AxisBiotix Acne positive interim results, initiation of research on the MediBiotix Pillar and progress with the oral and inflammation programmes. The com
Companies: SkinBioTherapeutics Plc
Companies: CLBS GHH NANO TRX SAVE TMT GELN
On 18th December 2023 Incanthera announced a deal with Marionnaud in Switzerland to distribute ‘Skin+CELL’, its advanced dermatological solution for the delivery of vitamin B3 for skin protection and cosmetic rejuvenation. This gives Incanthera access to a high-end cosmetics distribution presence in Europe, and in addition, ownership of Marionnaud by AS Watson, the largest cosmetics distributor in Asia, offers significant new market opportunities further afield.
Companies: Incanthera Plc
Stanford Capital Partners
FY EBITDA and EBIT came in materially above consensus FY EBITDA came in at EUR98.8m, down 4% yoy and 12% above consensus. The EBITDA margin was 12.6%. Restated for one-off costs, it was 13.1%, more than 2 percentage points above the guidance. It was fully explained by price increases, notably on X-ray, mix and control of fixed costs. FY EBITA came in at EUR38m, 46% above consensus. 2024 guidance looks conservative Guerbet is aiming for organic growth above 8% (8.8%e). With markets growing at
Companies: Guerbet (GBT:EPA)Guerbet SA (GBT:PAR)
BNP Paribas Exane - Sponsored Research
IRLAB Therapeutics has confirmed the FDA’s alignment with its proposed Phase III programme for mesdopetam in levodopa-induced dyskinesias (PD-LIDs), following receipt of the minutes from its end-of-Phase II (EoP2) meeting held last month. Notably, the FDA has agreed on the primary endpoint being the Unified Dyskinesia Rating Scale (UDysRS), on which mesdopetam demonstrated a statistically significant improvement (p=0.026) in the Phase IIb study (secondary endpoint of that study). IRLAB will now
Companies: Irlab Therapeutics Ab
Edison
Tissue Regenix has reported on strong performance through 2023, noting record revenues driven by product adoption and expanded distribution, positive adjusted EBITDA for the first time and an increased cash position versus H1/23. FY23 revenues grew 20% to $29.5m supported by 25% growth from BioRinse products and 17% growth from dCELL products. Significantly, Tissue Regenix reported its first adjusted EBITDA profit for the year, +$0.9m, supported by revenue growth and cost management. We expect t
Companies: Tissue Regenix Group plc
Creo Medical has published a trading update for the 12 months to December 2023, during which the company focused on commercialising its core technology. Revenue for the period increased 13% YoY to £30.8m, while the underlying operating loss improved to £16.4m. Operationally, during the period, the number of confirmed users of Creo’s Speedboat range more than doubled over the year, the first procedures with MicroBlate Flex to ablate lung tumours were performed and Creo expects to receive regulato
Companies: Creo Medical Group Plc
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LungLife AI is a medical diagnostics company focused on the development of AI-supported blood-based tests for the early detection of lung cancer. It has identified a significant medical need for non-invasive, sensitive and specific tests in early-stage lung cancer. The company’s core technology, the LungLB test, seeks to detect circulating tumour cells (CTCs) to identify malignant lung nodules. It aims to apply machine learning/AI (ML/AI) to derive algorithms to increase test accuracy. Following
Companies: LungLife AI, Inc.
This month's feature article is entitled 'Gold and a Chinese Credit Event'. A Western phenomenon? If you own, or are considering owning, gold or gold equities, it’s likely that you’re concerned about protecting your wealth, or the performance of your fund, in the expectation of some kind of financial instability. Maybe your confidence in policymakers is ebbing, or you’ve researched debt bubbles in history and concluded that physical gold and silver have been the safest places to be invested whe
Companies: NBPE ICGT ARBB CSN RECI CLIG HAT AVO STX VTA APAX
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