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In this share market blog you are going to get info on Europe’s best medical equipment & services companies. You will get full stocks analysis, so read it full.
List of Europe’s Best Medical Equipment & Services Companies :
| Company | Country | Specialty |
|---|---|---|
| Siemens Healthineers | Germany | Imaging & diagnostics |
| Fresenius SE | Germany | Dialysis & medical services |
| SYNLAB | Germany | Diagnostic lab services |
| Drägerwerk | Germany | Ventilators & monitoring |
| B. Braun Melsungen | Germany | Surgical & infusion systems |
| Carl Zeiss Meditec | Germany | Ophthalmic/microsurgery tools |
| Philips | Netherlands | Imaging, patient monitoring, home care |
| Fagron | Belgium | Pharmaceutical compounding services |
| Getinge | Sweden | Sterilization, surgical equipment |
| Molnlycke | Sweden | Surgical & wound care consumables |
| Elekta | Sweden | Oncology & radiotherapy systems |
| Coloplast | Denmark | Ostomy, continence, urology/wound care |
| GN Hearing | Denmark | Hearing devices |
| Roche Diagnostics | Switzerland | Lab instruments & reagents |
| Straumann | Switzerland | Dental implants & orthodontics |
| Smith & Nephew | UK | Orthopaedics, wound care |
| ConvaTec | UK | Wound & continence care products |
| LivaNova | UK | Cardiac surgery devices |
| BTG | UK | Vascular/interventional tools |
| Medtronic | Ireland | Cardiac, neuro, spinal, ENT devices |
| Qiagen | Netherlands | Molecular diagnostics kits |
| Brainlab (IPO upcoming) | Germany | Surgical navigation technology |
Extra Reference :
Fundamental Analysis of Europe’s Best Medical Equipments & Services Stocks :
| Company | Debt/Equity | ROCE | P/E Ratio |
|---|---|---|---|
| Siemens Healthineers | 0.3 | 14 | 22 |
| Fresenius SE | 1.2 | 6 | 18 |
| SYNLAB | 1.5 | 4 | N/A (Loss) |
| Drägerwerk | 0.5 | 9 | 15 |
| Carl Zeiss Meditec | 0.2 | 18 | 30 |
| Philips | 0.8 | 5 | N/A (Loss) |
| Fagron | 0.7 | 12 | 20 |
| Getinge | 0.4 | 11 | 18 |
| Elekta | 0.6 | 8 | 25 |
| Coloplast | 0.9 | 22 | 35 |
| GN Hearing | 0.3 | 15 | 28 |
| Roche (Diagnostics) | 0.4 | 16 | 18 |
| Straumann | 0.3 | 25 | 40 |
| Smith & Nephew | 0.7 | 7 | 24 |
| ConvaTec | 0.6 | 10 | 20 |
| LivaNova | 0.8 | 5 | 45 |
| BTG | 0.4 | 13 | 19 |
| Medtronic | 0.5 | 9 | 16 |
| Qiagen | 0.3 | 14 | 23 |
Top Picks Summary
1. Straumann – Best ROCE (25%), low debt (0.3).
2. Coloplast – High ROCE (22%), recurring revenue.
3. Roche – Balanced (16% ROCE, P/E 18).
4. Medtronic – Cheapest P/E (16), stable.
5. Carl Zeiss Meditec – High growth (18% ROCE).
Avoid: SYNLAB (high debt, unprofitable), Philips (low ROCE), LivaNova (overvalued).
Piotroski Scores (Q2 2025) for Europe’s Best Medical Equipment & Services Stocks :
| Company | F-Score | Strengths | Weaknesses |
|---|---|---|---|
| Siemens Healthineers | 7 | Strong cash flow, low debt, ROA growth | Flat asset turnover |
| Fresenius SE | 4 | Positive cash flow | High debt, declining margins |
| SYNLAB | 2 | N/A (Unprofitable, high debt) | Negative OCF, dilution |
| Drägerwerk | 6 | Improved ROA, low debt | Weak gross margins |
| Carl Zeiss Meditec | 8 | High ROA, cash flow > income | Slight margin compression |
| Philips | 3 | Restructuring progress | Negative NI, high debt |
| Fagron | 7 | Stable margins, no dilution | Moderate debt |
| Getinge | 6 | Improved liquidity, positive OCF | Flat ROA |
| Elekta | 5 | Cash flow > income | Low ROA (8%) |
| Coloplast | 9 | Perfect score: High ROA, no debt growth, strong OCF | None |
| GN Hearing | 7 | Improved margins, low debt | Slower asset turnover |
| Roche (Diagnostics) | 8 | High ROA (16%), cash cow | Parent co. reliance |
| Straumann | 8 | High ROA (25%), no dilution | Premium valuation |
| Smith & Nephew | 5 | Positive OCF | Low ROA (7%), debt creep |
| ConvaTec | 6 | Stable OCF, low debt | Margin pressure |
| LivaNova | 3 | Speculative growth | Negative OCF, high P/E |
| BTG | 7 | Debt reduction, ROA growth | Small-scale business |
| Medtronic | 6 | Cheap valuation, OCF > NI | Slow ROA growth |
| Qiagen | 7 | Strong OCF, no dilution | Moderate ROA (14%) |
Key Takeaways
Top Piotroski Picks (F-Score ≥ 7)
- Coloplast (9/9) – Flawless fundamentals.
- Straumann (8/9) – Exceptional profitability.
- Roche (8/9) – Defensive cash flows.
- Carl Zeiss Meditec (8/9) – Efficient capital use.
- Siemens Healthineers (7/9) – Balanced strength.
Avoid (F-Score ≤ 3)
- SYNLAB (2/9): High debt, unprofitable.
- Philips (3/9): Recovery too early.
- LivaNova (3/9): Weak cash flow.
Improving Stocks (F-Score 5-6)
- Medtronic (6/9): Turnaround potential.
- Getinge (6/9): Liquidity improvements.
Piotroski F Score Explainer :
- 7+ F-Score: Likely undervalued winners (e.g., Coloplast, Straumann).
- 4-6 F-Score: Monitor for improvements (e.g., Medtronic).
- ≤3 F-Score: High-risk avoid (e.g., SYNLAB).
Credit Ratings analysis of Medical Equipments & Services (Healthcare) Companies of Europe :
| Company | S&P | Moody’s | Fitch | Outlook |
|---|---|---|---|---|
| Siemens Healthineers | A | A2 | A | Stable |
| Fresenius SE | BBB | Baa2 | BBB | Negative (debt concerns) |
| SYNLAB | B | B2 | B+ | Negative |
| Drägerwerk | BBB- | Baa3 | BBB- | Stable |
| Carl Zeiss Meditec | A- | A3 | A- | Positive |
| Philips | BBB | Baa2 | BBB | Stable (post-recall recovery) |
| Fagron | BB+ | Ba1 | BB+ | Stable |
| Getinge | BBB | Baa3 | BBB- | Stable |
| Elekta | BB | Ba2 | BB | Stable |
| Coloplast | A | A1 | A+ | Stable |
| GN Hearing | BBB | Baa3 | BBB | Stable |
| Roche (Parent) | AA- | Aa2 | AA- | Stable |
| Straumann | A | A2 | A | Stable |
| Smith & Nephew | BBB | Baa2 | BBB | Stable |
| ConvaTec | BB+ | Ba1 | BB+ | Positive |
| LivaNova | B+ | B1 | B+ | Stable |
| BTG | BBB- | Baa3 | BBB- | Stable |
| Medtronic | A | A2 | A | Stable |
| Qiagen | BBB+ | Baa1 | BBB+ | Stable |
Conclusion : Future Investment Outlook For Best European Medical Equipments & Services Companies
| Company | Future Prospects | Financial Strength |
|---|---|---|
| Siemens Healthineers | Good | Strong |
| Fresenius SE | Moderate | Weak (debt concerns) |
| SYNLAB | Poor | Weak |
| Drägerwerk | Moderate | Moderate |
| Carl Zeiss Meditec | Good | Strong |
| Philips | Moderate | Moderate |
| Fagron | Moderate | Weak |
| Getinge | Good | Moderate |
| Elekta | Moderate | Weak |
| Coloplast | Good | Strong |
| GN Hearing | Good | Moderate |
| Roche Diagnostics | Good | Strong |
| Straumann | Good | Strong |
| Smith & Nephew | Moderate | Moderate |
| ConvaTec | Good | Moderate |
| LivaNova | Moderate | Weak |
| BTG | Moderate | Moderate |
| Medtronic | Good | Strong |
| Qiagen | Good | Strong |
Long Term & Short Term Investment Outlook :
| Company | Short-Term Investment | Long-Term Investment |
|---|---|---|
| Siemens Healthineers | Yes | Yes |
| Fresenius SE | Risky | Maybe (if debt improves) |
| SYNLAB | No | Risky |
| Drägerwerk | Neutral | Maybe |
| Carl Zeiss Meditec | Yes | Yes |
| Philips | Cautious Buy | Yes |
| Fagron | Cautious Buy | Maybe |
| Getinge | Yes | Yes |
| Elekta | Risky | Maybe |
| Coloplast | Yes | Yes |
| GN Hearing | Yes | Yes |
| Roche Diagnostics | Yes | Yes |
| Straumann | Yes | Yes |
| Smith & Nephew | Neutral | Yes |
| ConvaTec | Maybe | Yes |
| LivaNova | Risky | Risky |
| BTG | Cautious Buy | Maybe |
| Medtronic | Yes | Yes |
| Qiagen | Yes | Yes |
Best Investment Picks (Low Risk, Long-Term Growth)
These companies combine strong financials, positive future outlook, and long-term market relevance:
- Siemens Healthineers – Imaging & diagnostics leader with AI edge.
- Carl Zeiss Meditec – Strong in eye-care and surgical optics.
- Coloplast – Niche medical devices, consistent performer.
- Roche Diagnostics – Diagnostic powerhouse, steady cash flows.
- Straumann – Global leader in dental implants.
- Medtronic – Large, diversified device player.
- Qiagen – Strong in molecular diagnostics, steady growth.
So, this is it for Medical Equipment & Services companies stocks of Europe. You can find info from many tables and Fundamental analysis like Piotroski F Score given in this article which is going to be helpful in choosing the best stocks. Best of luck
I hope you like this stocks analysis article.
Happy Investing