SARTORIUS (SARTF) Surges 7.4%: Is This an Indication of Further Gains?
SARTORIUS SARTF shares soared 7.4% in the last trading session to close at $345.30. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.5% gain over the past four weeks.
SARTORIUS recorded a strong price increase driven by its encouraging performance in the first nine months of 2022. Revenues were up 16.6% in constant currencies with both the company’s divisions registering double-digit growth. Swift normalization of demand in the Bioprocess Solutions division contributed to the growth.
This company is expected to post quarterly earnings of $1.65 per share in its upcoming report, which represents a year-over-year change of -32.7%. Revenues are expected to be $873.35 million, down 17.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For SARTORIUS, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SARTF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
SARTORIUS is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, AngioDynamics ANGO, finished the last trading session 3% higher at $13.66. ANGO has returned 2.4% over the past month.
AngioDynamics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of +50%. AngioDynamics currently boasts a Zacks Rank of #3 (Hold).
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