02:46 PM EDT, 08/27/2024 (MT Newswires) -- Nordson's ( NDSN ) industrial precision solutions division showed resilience during the quarter driven by strong performance in traditional packaging and nonwovens end-markets, Oppenheimer said in a note emailed Tuesday.

The company's growth in industrial precision solutions offsets softer results in polymer processing as the division benefits from steady base markets, a high percentage of parts and consumables, and ongoing benefits of NBS Next, according to the note.

The firm said that Nordson's ( NDSN ) global leadership in precision dispensing has led to the identification of high-value, scalable customer applications in various sectors, including inside coatings for cans, fabric bonding, recycling, and automotive applications.

Oppenheimer said the medical and fluid solutions business is seeing a recovery in general industrial and electronics markets, although medical markets are softening, except for the biopharma segment, which has stabilized after a post-COVID correction.

The firm now expects Nordson's ( NDSN ) medical and fluid solutions to decline in fiscal 2025 due to reduced demand in medical interventional and fluid components following high comparisons that included inventory build-up and backlog reduction.

Oppenheimer has a perform rating on Nordson's ( NDSN ) stock.

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