Citi analyst Patrick Donnelly notes that Sartorius reported Q1 results below expectations and that management continued to flag the fading COVID-19 related business and ongoing destocking activities by customers. The firm, which views the results as having a negative read-through for Danaher (DHR), Thermo Fisher (TMO) and Avantor (AVTR) given the ongoing bioprocessing headwinds, anticipates weakness for that trio following these results, although it also notes that "investor sentiment was already negative on the bioprocessing stocking dynamic" in Q1 and that investors have been bracing for soft results across the sector.
Published first on TheFly
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