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Medacta Group SA
(MOVE)
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Rating:64Neutral
Price Target:
CHF122.00
▼(-4.24% Downside)
Action:Reiterated
Date:09/14/26
The score is driven primarily by strong underlying financial performance and a generally constructive earnings outlook with confirmed guidance, but is held back by weak technicals (stock in a clear downtrend with heavy negative momentum) and premium valuation. Cash-flow volatility and recent margin pressure add additional risk to the overall profile.
Positive Factors
Sustained Revenue Growth
The strong multi-year revenue expansion indicates continuing demand for Medacta's orthopedic and spine solutions. Broad growth across regions and product categories supports scale, reinforces surgeon and hospital adoption, and provides a durable base for further operating leverage.
Negative Factors
Margin Compression
The sustained decline in gross margin raises questions about how much of Medacta's historical profitability can be preserved as product and geographic mix evolve. Price erosion, foreign exchange, and lower-margin growth can limit earnings conversion even when revenue remains strong.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
The strong multi-year revenue expansion indicates continuing demand for Medacta's orthopedic and spine solutions. Broad growth across regions and product categories supports scale, reinforces surgeon and hospital adoption, and provides a durable base for further operating leverage.
Read all positive factors
Medacta Group SA (MOVE) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF2.23B
Dividend Yield0.96%
Average Volume (3M)31.16K
Price to Earnings (P/E)31.2
Beta (1Y)0.83
Revenue Growth7.51%
EPS Growth-20.13%
CountryCH
Employees2,273
SectorGeneral
Sector StrengthN/A
IndustryMedical - Specialties
Share Statistics
EPS (TTM)3.89
Shares Outstanding20,000,000
10 Day Avg. Volume45,276
30 Day Avg. Volume31,155
Financial Highlights & Ratios
PEG Ratio1.10
Price to Book (P/B)7.36
Price to Sales (P/S)4.88
P/FCF Ratio112.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF149.67Price Target Upside17.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.86
Revenue Forecast (FY)CHF754.40M
Medacta Group SA Business Overview & Revenue Model
Company Description
Medacta Group S.A. is a worldwide enterprise specializing in the design, production, and distribution of medical devices for both orthopedic and neurosurgical applications. Operating across Europe, North America, the Asia-Pacific region, and numer...
How the Company Makes Money
Medacta makes money primarily by selling orthopedic and spine products used in surgical procedures to hospitals, clinics, and other healthcare providers, typically through a combination of direct sales organizations and independent distributors de...
Medacta Group SA Earnings Call Summary
Earnings Call Date:Sep 09, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 12, 2027
Earnings Call Sentiment Positive
The call was broadly positive, supported by almost 10% constant-currency revenue growth, above-market performance across most product categories and regions, confirmed 2026 and midterm guidance, product launches, India approval, and planned U.S. expansion. However, the period also included meaningful margin pressure, lower operating cash flow, negative free cash flow, a slower-than-expected U.S. market, customer attrition, Spanish strikes, and subdued spine growth. Highlights significantly outweighed the lowlights, although management acknowledged that reaching the midpoint of full-year guidance would be difficult.Positive Updates
Strong First-Half Revenue and EBITDA Performance
Medacta grew almost 10% in constant currency in H1 2026, reaching EUR 368 million of revenue. Adjusted EBITDA was EUR 97 million, with a margin of 27.8% in constant currency and 26.5% on a reported basis.
Negative Updates
Gross Profit Margin Decline
Gross profit increased to EUR 240 million from EUR 233 million, but the gross profit margin declined to 65.2% from 68.3%, a reduction of about 3%. Management attributed the decline to a 1.3% adverse FX effect, approximately 0.5% price erosion, and a 1.3% impact from geographic and product mix, including lower U.S. sales, higher sports medicine sales, and a higher D&A ratio.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong First-Half Revenue and EBITDA Performance
Medacta grew almost 10% in constant currency in H1 2026, reaching EUR 368 million of revenue. Adjusted EBITDA was EUR 97 million, with a margin of 27.8% in constant currency and 26.5% on a reported basis.
Read all positive updates
Company Guidance
Medacta confirmed its 2026 outlook for revenue growth in the range of 10%-14% and an expansion of the adjusted EBITDA margin of around 50 basis points versus prior year in constant currency; it also confirmed its midterm outlook for revenue compound annual growth rate, in constant currency, between 12% and 15%, with a gradual improvement of the adjusted EBITDA compared, versus 2025, in constant currency and subject to unforeseen events. Management said achieving the mid-portion of the guidance is possible but probably more likely to be slightly below the midline, while growing even 10%-12% in the current environment would probably be close to 3x the market.Medacta Group SA Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
76
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 706.64M | 688.27M | 590.58M | 510.78M | 437.12M | 363.13M |
| Gross Profit | 462.97M | 441.40M | 399.44M | 347.85M | 305.26M | 261.25M |
| EBITDA | 189.81M | 190.55M | 160.51M | 119.64M | 106.96M | 97.81M |
| Net Income | 77.14M | 96.12M | 72.89M | 47.36M | 46.25M | 51.52M |
Balance Sheet | ||||||
| Total Assets | 1.01B | 916.93M | 792.18M | 695.87M | 584.49M | 489.27M |
| Cash, Cash Equivalents and Short-Term Investments | 36.10M | 33.19M | 31.59M | 20.79M | 32.26M | 20.40M |
| Total Debt | 321.58M | 262.56M | 241.21M | 201.98M | 170.25M | 132.66M |
| Total Liabilities | 526.20M | 460.71M | 412.51M | 365.83M | 309.83M | 262.87M |
| Stockholders Equity | 484.64M | 456.22M | 379.66M | 330.04M | 274.65M | 226.40M |
Cash Flow | ||||||
| Free Cash Flow | -1.85M | 29.90M | 2.45M | -7.09M | 10.35M | 7.57M |
| Operating Cash Flow | 134.56M | 153.65M | 107.14M | 75.13M | 73.51M | 54.06M |
| Investing Cash Flow | -146.01M | -137.86M | -98.87M | -80.61M | -65.11M | -52.04M |
| Financing Cash Flow | 9.08M | -18.91M | 4.33M | -10.13M | 3.44M | -31.21M |
Medacta Group SA Technical Analysis
Negative
127.40
Price Trends
127.17
Negative
132.53
Negative
143.78
Negative
Market Momentum
-5.05
Positive
36.56
Neutral
30.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:MOVE, the sentiment is Negative. The current price of 127.4 is above the 20-day moving average (MA) of 119.44, above the 50-day MA of 127.17, and below the 200-day MA of 143.78, indicating a bearish trend. The MACD of -5.05 indicates Positive momentum. The RSI at 36.56 is Neutral, neither overbought nor oversold. The STOCH value of 30.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:MOVE.
Medacta Group SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | CHF15.34B | 42.00 | ― | 1.02% | 2.24% | -5.84% | |
64 Neutral | CHF2.23B | 31.19 | 16.40% | 0.96% | 7.51% | -20.13% | |
64 Neutral | CHF4.60B | 21.95 | 28.54% | 1.23% | -2.39% | 154.37% | |
62 Neutral | CHF1.18B | 71.67 | ― | ― | 29.92% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | CHF392.41M | 3,920.00 | ― | 1.02% | -6.64% | ― |
* General Sector Average
CH:MOVE
Medacta Group SA
114.00
-36.44
-24.22%
CH:STMN
Straumann Holding AG
97.86
8.87
9.97%
CH:YPSN
Ypsomed Holding AG
358.00
9.80
2.82%
CH:MEDX
medmix AG
9.80
0.27
2.79%
CH:MED
Medartis Holding AG
86.00
-2.70
-3.04%
CH:LEPU
Lepu Medical Technology (Beijing) Co., Ltd. Sponsored Global Depositary Receipt Repr Sh -A- Reg S
18.00
0.12
0.68%
Medacta Group SA Corporate Events
Medacta Delivers Above-Market H1 Growth and Expands Global Infrastructure
Sep 9, 2026
Medacta reported first-half 2026 revenue of €368 million, up 9.7% in constant currency and 7.0% in euros, outpacing the orthopedic market despite a softer U.S. environment and a spine sales channel transition.Adjusted EBITDA reached about &#...
Medacta lifts H1 2026 revenue 9.7% and confirms growth outlook
Jul 31, 2026
Medacta Group SA reported preliminary unaudited H1 2026 revenue of €368 million, up 9.7% in constant currency and 7.0% in euro, again outpacing market growth across all regions and business lines. Growth was driven by continued innovation, s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.