Swedish medical technology company Elekta’s shares declined 4.2% on Thursday, falling to SEK 51.78 after opening at SEK 55.08 and hitting a session low of SEK 51.78.
The decline follows the release of Elekta’s first-quarter results for the 2026/27 fiscal year, which showed net sales growth of approximately 3% in constant currency. Profitability, however, fell short of investor expectations, with margins pressured by unfavorable exchange rates and ongoing tariff impacts. The company also cited continued weakness in key markets, particularly the U.S. and China, where no significant recovery is expected before the second half of the fiscal year.
Analysts responded with a wave of downgrades. Danske Bank maintained a "sell" rating with a price target of SEK 45, while UBS initiated coverage with a "sell" recommendation and a target of SEK 34. Barclays kept its "underweight" stance. These bearish outlooks underscore a broader pessimistic consensus, leaving limited scope for further positive surprises.
The broader market environment remained stable, with U.S. indices and global risk appetite holding relatively steady. This suggests the selloff was driven primarily by company-specific factors rather than broader macroeconomic deterioration. Elekta’s shares are now trading closer to their 52-week low of SEK 42.20 than their 52-week high of SEK 66.60.
The stock’s recent performance follows a more than 14% drop in May after the company’s fourth-quarter 2026 results were released, reflecting persistent investor concerns over profitability and market conditions.
