BioMerieux Reports Another Strong Quarter of Growth, but Valuation Still Difficult to Justify
Narrow-moat BioMerieux posted another quarter of strong growth—9.1% on an organic basis—even though the pace has slowed since the first quarter. Management now expects close to 9% organic growth for the year, near the top of its previous outlook, which looks achievable thanks to first-half performance. Even though currency tailwinds should subside over the remainder of the year, our current forecast includes nearly 11% growth for the year, but we remain somewhat skeptical of management’s ability...Co. specializes in the field of in vitro diagnostics for clinical and industrial applications. Co. designs, develops, manufactures and markets systems used in: Clinical Applications (the diagnosis of infectious diseases such as hepatitis, HIV, tuberculosis and respiratory illnesses, as well as pathologies such as cardiovascular diseases and cancers, based on the analysis of biological samples such as blood, saliva or urine); and Industrial Applications (microbiological analysis of samples of finished or semi-finished products (or of the environment), chiefly in the food processing and biopharmaceutical industries), detecting microorganisms in agri-food, pharmaceutical and cosmetic products.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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