Getinge GETI B

Stockholm | Medical technology and hospital equipment

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Full analysis: 6 Apr 2026 Latest news check: 18 Jul 2026

General analysis — not personal advice.

HOLD 7/10

Confidence

Maintain the current position; investors looking to add can do so gradually after the strong report, but a larger increase may be better timed after Q3 confirms that margin and order momentum persist without meaningful one-offs.

The stance remains HOLD: the report strengthens the case via better underlying margin (even excluding the one-off) and strong cash generation, but it is reasonable to wait for another quarter to confirm margin durability and performance in the more volatile Life Science areas as well as any regulatory readouts.

Market sentiment 8/10 ↑

Trend: Improving

Sentiment has improved materially after a strong Q2 print with better-than-expected profitability and cash flow plus solid order intake, even though part of the margin uplift was driven by a one-off item.

Risk assessment 6/10

Dilution: Low Profitable with positive cash flow

Jurisdiction: Low Sweden/US/EU operations in stable jurisdictions

Execution: High History of quality and regulatory issues

Recent changes

Q2 delivered 4.6% organic growth and +6.2% order intake, with adj. EBITA margin 17.6% (15.2% excl. tariff refund/FX) including a ~SEK 336m one-off. Free cash flow was SEK 1,001m and FY 3–5% organic growth guidance was…

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About the company

Getinge AB is a Swedish medtech company providing equipment and solutions to hospitals and life science customers globally. The company is profitable with improving underlying margins, but reported results are affected by FX/tariffs and recurring regulatory/quality risks (especially in the US).

Sector: Medical technology and hospital equipment

Type: Other

Next report

21 Oct 2026

Catalysts

●

21 Oct 2026

Q3 2026 report High

◦

Unknown

Potential FDA outcome for Cardiosave 510(k) Medium

Horizon:

Bull case

A strong Q2 with improved underlying margin, higher order intake and sharply better free cash flow supports the view that profitability gains may be sustainable.

Bear case

Part of Q2 was boosted by a one-off, and ongoing execution/regulatory risk plus Life Science volatility could pressure valuation again if the trend is not confirmed.

Signal rationale (informational)

Recent news

The Q2 report (17 July 2026) delivered 4.6% organic sales growth and +6.2% organic order intake, with an adjusted EBITA margin of 17.6% (15.2% excluding the tariff refund/FX) including a positive one-off impact of ~SEK 336m from an IEEPA tariff refund; free cash flow rose to SEK 1,001m and the full-year outlook (3–5% organic growth) was reiterated. There are also claims of an acquisition of Pennamed (UK distributor) and that a Cardiosave 510(k) submission has been filed with the FDA, but these items are not confirmed within the same source base as the interim report.

Price & valuation

Last close

SEK 239

2026-08-11

1 week

+0.3 %

3 months

+24.8 %

12 months

+19.6 %

From 52w high

-0.3 %

From 52w low

+32.3 %

Exchange

Stockholm

Sector

Medical technology and hospital equipment