Virbac Stock: New Midday Increase of 2.64% Following Annual Target Upgrades
Virbac stock continues its ascent this Tuesday at midday, rising 2.64% to reach 350.50 euros. This increase follows the third-quarter results released late last week, which triggered a sharp rebound for the veterinary laboratory based in the Alpes-Maritimes.
Current Trading Session Performance
At 13:25, the share of the animal health specialist shows an increase of 2.64% to 350.50 euros, after having closed the previous day at 341.50 euros. This new advance brings the weekly performance to 11.45%, marking a significant inflection after several challenging months. However, capital turnover remains limited to 0.09%, indicating sparse trading during the session. Over one year, the stock shows a modest increase of 1.45%, significantly lagging behind the CAC 40's 8.23% over the same period. The rebound observed since last week follows the publication of third-quarter figures, unveiled on October 16 after the close. The laboratory recorded a sharp acceleration in growth during this period, with revenues up 12.5% on a comparable basis, compared to only 6.4% in the second quarter and 4.9% in the first. This momentum propelled the stock up 7.23% the following day, making it the second-largest rise in the SBF 120 on October 17.
Third Quarter Financial Performance
Third-quarter revenues reached 364.1 million euros, up 7.3% at real exchange rates. Over the first nine months of the year, revenue reached 1.102 billion euros, up 5.8%. This performance was driven by two major geographic areas: Europe, which represents a significant share of sales, showed growth of 6.1%. Encouraged by these results, Virbac has raised its annual forecasts. The group now targets a revenue increase between 5.5% and 7.5% at constant exchange rates and scope, compared to a previously forecasted range of 4% to 6%. The adjusted current operating result is maintained around 16%, while the cash position is expected to improve by approximately 80 million euros for the year, excluding potential acquisitions. However, the group anticipates a slowdown in sales in the fourth quarter.
Technical Analysis of the Stock
Technically, the stock is now significantly above its 50-day and 200-day moving averages, positioned at 323.61 euros and 318.64 euros, respectively. The RSI indicator is at 68, a level that indicates a sustained bullish momentum without reaching the overheating zone. The MACD shows positive signals with a line at 1.19 and a histogram at 2.53, confirming the recent trend. The price has crossed the resistance threshold identified at 341.50 euros, which corresponds to the previous day's high. The Bollinger Bands, with an upper boundary at 332.94 euros, are also exceeded, demonstrating the strength of the movement initiated since the publication of the quarterly results.
