Sartorius Stedim shares break through the 221.80 € resistance and gain 2.5%
The bioprocess specialist extends its rebound in a well-oriented SBF 120. The stock has just cleared several levels watched for months, and its gap with its three moving averages continues to widen.
A 250-session high erased at €223 after a very strong quarter
The share price of Sartorius Stedim Biotech gains 2.71% to €227.40 intraday, while the SBF 120 rises 1.25%. The stock broke upward through €221.80, then €223, the highest level of the last 250 sessions: this former resistance is now becoming a support.
The stock is at the top of its moving averages, 5.7% above the MM20 and nearly 25% above the MM200, extending a quarter in which it rose 33.8%. The next round level is at €230, above the current price. The RSI at 65 remains in an intermediate zone, without excess.
Nine months of growth and targets confirmed on October 22
The group published its nine-month results on October 22: free cash flow rose 58.5% and annual targets were confirmed. Operating activity gained 7.8% at constant exchange rates, with growth of 10.6% in Asia-Pacific.
At the time of this release, management considered these developments likely to significantly strengthen its confidence for the rest of the year. At the current price, according to the consensus of the analysts surveyed, the stock trades at about 45.6 times earnings for the current fiscal year. The €230 level is the next level to watch.
