bioMérieux's share price soared by nearly 8% after the in vitro diagnostics specialist released a trading update for the first three months of the year, accompanied by the presentation of its strategic plan and five-year objectives.

In line with consensus, sales for the first quarter of 2024 came in at 965 million euros, up 9.8% at constant exchange rates and scope of consolidation, enabling the company to confirm its objectives for the full year.

In addition, bioMérieux has indicated that it is aiming for organic sales growth of 7% on average per annum over 2024-28, and contributory ROC of 20% of sales in 2028, targets that "would be at the higher end of expectations", according to Oddo BHF.

First-quarter sales are satisfactory, and elements relating to CMD offer an additional degree of visibility which, in a DCF approach, should rather give the consensus some material to be constructive", adds the research department.

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