Sartorius Shares Rise on Signs of Order Recovery in 3Q

By Giulia Petroni

Shares in Sartorius rose on Thursday after the German life-sciences group said there were signs of a slight recovery in order intake at the end of the third quarter despite soft demand.

At 0852 GMT, the stock traded 7.1% higher at EUR272.30.

"We expect orders to continue to increase slightly in the fourth quarter, especially in the bioprocess solutions division, and anticipate profitable growth in 2024 and beyond," Chief Executive Joachim Kreuzburg said.

According to Citi analysts, the third-quarter order intake at the bioprocess unit increased 15% on quarter, pointing to an encouraging book-to-bill improvement.

The lab products division instead continued to show weakness, partly due to increased reluctance from customers from China and the U.S. to purchase laboratory instruments, according to the company.

Sartorius downgraded its full-year targets on lower nine-month sales and earnings earlier this month.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

October 19, 2023 05:15 ET (09:15 GMT)

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