bioMérieux: Weak 2016 EBIT guidance provides buying opportunity

BUY, Fair Value EUR121 (+3%)
News published on March Wednesday 2, 2016
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BioMérieux has published FY2015 results, after top-line data was issued in January (slightly above estimates). Contributive EBIT was below consensus estimates at EUR260m (vs EUR266m anticipated) albeit at the high-end of the company’s guidance, while EUR46m in non-recurring items impacted earnings. Cautious contributive EBIT guidance has to be seen in the light of a window of opportunity left by GenMark as well as BioFire that should reach the group’s profitability this year. We would buy on any share price weakness at opening.

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