Siemens Healthineers Shares Drop Despite In-Line Results

By Nina Kienle

Siemens Healthineers shares dropped after the company posted third-quarter results that met consensus expectations but showed a revenue decline in China.

At 0805 GMT, shares trade 6.7% lower at EUR49.63.

The German healthcare company on Wednesday posted net profit for the period of 469 million euros ($507.3 million) and revenue of EUR5.42 billion, both figures increasing year-on.

The results came in-line with analysts' views, forecasting net profit and revenue at EUR460.4 million and EUR5.53 million, respectively, according to consensus estimates provided by Visible Alpha.

However, results are seen as slightly disappointing, Equita Sim analyst Davide Marchesin said in a note to clients. "In the China region, revenue declined by a low double-digit percentage against a very good prior-year quarter due to temporarily delayed customer orders," he said.

The results aren't the clearing event either for Jefferies analysts. An improvement in the China situation is critical in order for Siemens Healthineers to meet its 2025 targets, they said in a note.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

July 31, 2024 04:38 ET (08:38 GMT)

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