CSL (ASX:CSL) fiscal year 2025 earnings of $6.17 per share and revenue of $15.56 billion were broadly in line with expectations but lacked quality, driven by a weaker performance from its biopharmaceutical firm Behring, according to a Tuesday note by Jarden.

CSL Behring delivered $11.16 billion in revenue, up 5.2% year-on-year, but missed expectations by 4.1%, Jarden said.

The company's fiscal year 2026 guidance was in line with expectations and will be driven by the company's strategic review, which includes a planned divestment, a AU$750 million share buyback, and a cost-saving program targeting AU$500 to AU$550 million in savings over three years, Jarden added.

Jarden believes that CSL's results may benefit from a more focused and simplified business structure.

The firm has an overweight rating on CSL and an AU$313.12 price target.

Shares of the company fell 17% at market close and earlier hit a 52-week low.