Straumann Kept at Outperform as BMO Notes Q2 Beat, CEO Change; Price Target Down

MT Newswires · 2d ago
12:47 AM EDT, 08/20/2026 (MT Newswires) -- BMO Capital Markets reiterated its outperform rating on Straumann Holding (STMN.SW), noting the dental products company's second-quarter beat and unexpected leadership change. "2Q results beat on strong North America and better-than-expected [Asia Pacific] performance, margin gains remain structural (two-thirds [non-tariff/volume-based-procurement] related), tariff costs are now tracking lower (~CHF15mm vs. prior CHF25-30mm guide), China distributor/customer behavior remains stable, and 2030 targets remain unchanged with the incoming [Chief Executive Officer Christopher Norbye] said to be fully committed. We think today's sell-off reflects surprise and uncertainty around the CEO transition ([Guillaume Daniellot] is well liked) rather than any change in fundamentals," analysts said Wednesday, adding they see the pullback as a buying opportunity. For the three months ended June 30, Straumann's group revenue came in at 707 million francs, up 8.5% organically, while its first-half revenue rose to 1.38 billion francs from 1.35 billion francs. The company also confirmed its recently upgraded full-year 2026 outlook, which includes a high-single-digit organic growth target. Against this backdrop, the research firm lifted its 2026 revenue forecast by $26 million to $2.77 billion, implying an 8.6% year-over-year organic growth, and raised its EPS projection by $0.11. Meanwhile, BMO's price target on the stock fell to $114 from $121 due to recent multiple compression of medical technology companies.