Company Reports

BioMérieux is a specialist in the fragmented in vitro diagnostics market, with expertise in microbiology testing and syndromic molecular testing, while also active in the immunoassays market.

BioMérieux is a specialist in the fragmented in vitro diagnostics market, with expertise in microbiology testing and syndromic molecular testing, while also active in the immunoassays market.

BioMérieux reported 5% organic sales growth in the second quarter of 2026, driven by Microbiology and Industrial Applications. First-half cEBIT fell 16%. Management maintained its full-year guidance but lowered its mid-term targets to reflect the geopolitical and macro climate.

BioMérieux is a specialist in the fragmented in vitro diagnostics market, with expertise in microbiology testing and syndromic molecular testing, while also active in the immunoassays market.

BioMérieux posted negative 3.9% organic sales and negative 10.4% reported sales in the first quarter, hit heavily by currency headwinds. Full-year guidance for both sales and contributive EBIT was lowered. Shares are trading 13% lower.

Life science stocks have been under pressure since late 2022, but with profits expected to rebound in the high single digits in 2026 on average and potentially accelerate even further in 2027-30 due to upcoming catalysts, we see growing momentum in the industry’s profit growth trajectory.

BioMérieux is a specialist in the fragmented in vitro diagnostics market, with expertise in microbiology testing and syndromic molecular testing. The company is also active in the immunoassays market.

BioMérieux reported fourth-quarter organic sales growth of 3.5% and full-year organic growth of 6.2%, slightly below the company-compiled consensus of 6.3%. The adjusted EBIT margin expanded by 160 basis points to 17.9%.

BioMérieux reported 3.1% organic sales growth during the third quarter. Nonrespiratory molecular growth was partially offset by lower respiratory pathogen circulation and currency effects.

We are transferring the coverage of BioMérieux to a new analyst. BioMérieux is the leader in syndromic molecular and microbiology diagnostics, while also being active in the specialty immunology market. It offers both testing equipment and test consumables.

BioMérieux is a specialist in the fragmented in vitro diagnostics market, with expertise in microbiology testing and syndromic molecular testing. The company is also active in the immunoassays market.

BioMérieux reported first-half 2025 earnings with 9.4% organic sales growth, in line with company-compiled consensus, while contributive EBIT was above consensus at 18.2% versus 16.5%. Net income fell 25% due to the impairment of its Reveal technology. Shares are down 1% intraday.

BioMérieux reported its first-quarter 2025 results, exceeding company-compiled consensus estimates. Sales increased in constant currency by 12.7%. Shares are trading 6% lower intraday on April 17.

Over the past week, life science shares have experienced significant volatility related to a deepening trade war with China and as broader US tariffs were implemented and then paused for 90 days to allow time for negotiations. A pharmaceutical-specific tariff is also being considered.

Narrow-moat BioMérieux reported solid results for the third quarter of 2024. Robust sales growth was supported by most segments, with the biggest contribution coming from strong execution in molecular biology and microbiology, along with a significant acceleration in the Spotfire installed base, booking 600 new installations in the third quarter, which is 2.4 times more than the previous quarter. Although BioMérieux expects the next quarter to be weaker than the same period last year, it confirmed the guidance updated last quarter, anticipating 8%-10% organic sales growth and contributive operating income before nonrecurring items growth between 12%-17%, with a slightly lower expected negative currency effect of EUR 60 million (down from the EUR 70 million guided last quarter). The results appeared satisfactory for investors, as the stock price rose by roughly 2% following the market's opening on Oct. 30. We maintain our fair value estimate of EUR 114 per share unchanged and view the shares as fairly valued.

As we are refreshing our thoughts on BioMerieux, we are reinstating our narrow moat rating. BioMerieux is a niche player in the fragmented in vitro diagnostic market and has specialty positioning in clinical and industrial microbiology and multiplex molecular diagnostics, which is also called syndromic testing. Our fair value estimate is EUR 114 per share, and we view the current market price as fairly valued.

BioMerieux is a niche player in the fragmented in vitro diagnostic market and has specialty positioning in clinical and industrial microbiology and multiplex molecular diagnostics, or syndromic testing. The company also sells immunoassays. With over EUR 3.6 billion in sales, BioMerieux is one of the largest global mid-cap diagnostic companies.

We are dropping coverage of BioMerieux. We provide broad coverage of more than 1,500 companies globally and periodically adjust our coverage according to investor interest and staffing.

BioMerieux’s second-quarter results generally met our expectations, even with higher operating expenses that weighed on margin. We are maintaining our EUR 95 fair value estimate and narrow moat rating.

Narrow-moat BioMerieux faced headwinds in the first quarter from lower equipment placement and COVID-19-related labor shortages, though results were not far off from our forecast, and we maintain our EUR 95 fair value estimate. The shares look to be fairly valued, in our view, even after a year-to-date decline of 27%.