- Life Sciences tool makers including Repligen ( NASDAQ: RGEN ) and Bio-Rad Laboratories ( NYSE: BIO ) are down in Wednesday trading after competitor Sartorius ( OTCPK:SARTF ) said it was seeing "a swift normalization of demand following two years influenced by strong special effects due to the pandemic."
- Sartorius ( OTCPK:SARTF ) reported Q3 2022 results in which revenue beat expectations .
- The comments from Sartorius CEO Joachim Kreuzburg seems to have spooked peers as Repligen ( RGEN ) is down ~13% and Bio-Rad is off 6% .
- Others in the life sciences tool business that are also impacted include Thermo Fisher Scientific ( NYSE: TMO ) and Danaher ( NYSE: DHR ), both down ~4% .
- Read why Seeking Alpha contributor Valuentum considers Danaher ( DHR ) a hold.
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Repligen, Bio-Rad, life sciences tool makers down after Sartorius says COVID demand slows