In justification of the move, the Swiss bank believes that short-term visibility is more limited than before. While analysts maintain that the in vitro diagnostics specialist's product quality and competitive positioning support a long-term investment thesis, they add that 'for the stock to recover, we believe management needs to prove its execution capabilities once again.'

To turn positive on the stock again, analysts are waiting to see if the second and third quarters provide evidence that the key variables in the new adjusted EBIT growth forecasts are fully secured.

On April 23, during the release of its quarterly revenue figures, the company revised its financial targets downward. For the 2026 fiscal year, it now expects annual organic sales growth of between 3% and 5%, compared to the previous range of +5% to +7%. Organic growth for contributory operating income is now projected between 0% and 10%, down from the previous forecast of over 10%. These downward revisions are primarily linked to lower expectations regarding the flu season.

UBS notes that bioMérieux possesses solid R&D capabilities and attractive competitive positions, as evidenced by its track record of establishing leadership in new segments, whether developed organically (Microbiology) or through astute acquisitions (BioFire). Analysts believe the new SpotFire platform has the potential to support medium-term outperformance. However, confidence must be restored over the next 12 months for the share price to recover.