Company Reports

Diasorin is a niche player in the fragmented in-vitro diagnostics market, with a strong focus on specialty immunodiagnostics. The company provides testing equipment and reagents, creating recurring sales opportunities from its installed base. At its May 2026 investor day, Diasorin reaffirmed its positioning as a diagnostic specialist, with continued specialty menu expansion across all three business lines as the core driver of growth through 2030.

Diasorin reported second-quarter sales growth of 4% at constant exchange rates, with adjusted EBITDA margin declining to 33% from 35%, affected by volume-based procurement in China and higher investment in its US commercialization organization. Management confirmed its full-year guidance.

Diasorin's investor day outlined mid-term plans to strengthen its role in immunodiagnostics and molecular specialty testing, expand in the US, and specify sales targets for new instruments and test launches.

Diasorin is a niche player in the fragmented in-vitro diagnostics market, with a strong focus on specialty immunodiagnostics. The company provides testing equipment and reagents, creating recurring sales opportunities from its installed base. Diasorin benefited from the covid pandemic, with related sales reaching 30% of the company's total sales, which have subsequently declined sharply, now accounting for 1% of sales.

Diasorin reported first-quarter results with a 3% constant-currency sales decline, affected by a weak flu season. The adjusted EBITDA margin contracted to 31% from 34% a year ago. Management maintained its full-year guidance of 5%-6% organic growth and an adjusted EBITDA margin of 32%-33%.

Diasorin is a niche player in the fragmented in-vitro diagnostics market, with a strong focus on specialty immunodiagnostics. The company provides testing equipment and reagents, creating recurring sales opportunities from its installed base. Diasorin benefited from the covid pandemic, with related sales reaching 30% of the company's total sales, which have subsequently declined sharply, now accounting for 1% of sales.

Diasorin reported full-year sales growth of 4% at a constant exchange rate and 33% adjusted EBITDA margin.

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.

Diasorin is a niche player in the fragmented in-vitro diagnostics market, with a strong focus on specialty immunodiagnostics. The company provides testing equipment and reagents, creating recurring sales opportunities from its installed base. Diasorin benefited from the covid pandemic, with related sales reaching 30% of the company's total sales, which have subsequently declined sharply.

Diasorin reported third-quarter earnings, growing sales 2% in constant currencies, while adjusted EBITDA declined to 31% from 33%. Management lowered its full-year guidance, excluding covid, for revenue growth to 5% from 8%, and EBITDA margin to 33% from 34%.

Diasorin is a niche player in the fragmented in-vitro diagnostics market, with a strong focus on specialty immunodiagnostics. The company provides testing equipment and reagents, creating recurring sales opportunities from its installed base. Diasorin benefited from the covid pandemic, with related sales reaching 30% of the company's total sales, which have subsequently declined sharply.

We are transferring the coverage of Diasorin to a new analyst. Diasorin is a specialist in immunodiagnostics, while also being active in molecular testing and offering licensed technologies used for developing diagnostic tests.

Diasorin reported its second-quarter earnings, in line with PitchBook consensus. Sales rose 5% and adjusted EBITDA grew 11%, both in constant currency. Shares declined 1% intraday.

DiaSorin reported first-quarter 2025 results, with total revenue up 7% and ex-covid revenue up 9% year over year in constant currency. Adjusted EBITDA rose 10%, with all figures slightly exceeding PitchBook consensus estimates. Shares are trading 2% lower intraday.

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 Diasorin posted 3% revenue growth for 2024, or 7% excluding covid-related revenue, slightly below expectations. However, adjusted EBITDA grew 5% year over year, with a 59-basis-point margin expansion to 33%. We keep our fair value estimate unchanged at EUR 105 per share.

DiaSorin is a niche player in the fragmented in vitro diagnostic, or IVD, market with specialization in infectious diseases. Its systems can perform tests for a wide range of diseases including hepatitis, tuberculosis, mumps, and measles. Despite operating in a competitive industry with high research and investment requirements, DiaSorin has consistently been able to expand its installed base and deliver strong returns for shareholders over time. The company also benefited from the covid pandemic with a higher installed base and a greater awareness of the importance of IVD testing for respiratory infections.

As we are refreshing our thoughts on DiaSorin, we are reinstating our narrow moat rating. Our fair value estimate is EUR 105 per share, and we view the market price as fairly valued.

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

DiaSorin saw strong growth in the second quarter driven by greater-than-expected demand for COVID-19 tests, and while margin declined, this was expected given the dilutive impact of the Luminex acquisition. We are maintaining our narrow-moat rating and EUR 119 fair value estimate.