Siemens Healthineers stock gets higher targets but no upgrades

Siemens Healthineers closed fiscal 2026 with a strong fourth quarter, but its profit outlook for the new year remains below the result just achieved. The company reported the figures on November 5 for the fiscal year ended September 30, while an Ad Hoc News analysis on November 12 highlighted the mixed analyst signal.

Siemens Healthineers reported 4.0 percent comparable revenue growth for fiscal 2026 and an adjusted EBIT margin of 16.2 percent. Fourth-quarter comparable revenue growth accelerated to 5.9 percent, led by Imaging, where comparable revenue increased 10.0 percent. Diagnostics moved in the opposite direction, with comparable revenue down 4.2 percent and an adjusted EBIT margin of 5.4 percent.

The company expects comparable revenue to grow between 4.0 and 5.0 percent in fiscal 2027. Adjusted basic earnings per share are forecast in a range of 2.20 to 2.40 euros, below the 2.42 euros achieved in fiscal 2026. The proposed dividend remains unchanged at 1.00 euro per share.

Higher targets, unchanged convictions

Goldman Sachs raised its price target to 49 euros from 43 euros and retained a Neutral rating. Deutsche Bank Research lifted its target to 43 euros from 39 euros and kept its Hold rating. The target increases improve the valuation signal, but the unchanged recommendations show that analysts still want clearer evidence of an earnings recovery.

The main operational test is Diagnostics. Siemens Healthineers is preparing the in-vitro diagnostics business for a standalone structure under the Olyrian Diagnostics name, with the transition expected to be completed by mid-2028. Management is also positioning the core portfolio for stronger growth while preparing a name change to Healthineers as part of the planned separation from Siemens.

Siemens Healthineers stock traded at 43.72 euros on Lang & Schwarz at 11:33 CET on Friday, November 13, 0.18 percent below the Xetra close of Thursday. The contrast between higher analyst targets and guidance below the prior year's earnings leaves the shares dependent on execution in Imaging, cost savings and the Diagnostics turnaround.

The broader DAX market environment remains relevant for European healthcare shares; Current market reports provide the wider context.

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