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Investing.com -- Philips stock fell 4% Thursday after the Dutch health technology company raised concerns about tariff headwinds and growth expectations during a Citi Global Healthcare Conference.
The decline marked the stock’s steepest drop in nearly 10 months, with shares falling as much as 8.6% at one point, making it the worst performer on both the Stoxx 600 and the Stoxx 600 Health Care subindex.
According to Citi, Philips CEO Roy Jakobs cautioned that while organic sales growth would improve in 2026 from the approximately 2% expected this year, it was "unlikely" to double. This contrasts with current consensus estimates pointing to growth of 4.5%.
The company also warned that tariff headwinds next year are expected to almost double, potentially impacting profit margins despite Philips reiterating its goal to improve margins in 2026.
Regarding regional outlook, Philips indicated that the global hospital capital spending environment in 2026 would remain similar to 2025, with strong U.S. demand, solid European and international markets, but muted conditions in China.
Citi analyst Veronika Dubajova noted that Philips believes "a lack of growth opportunities in China is leading many of the Chinese manufacturers to pursue growth outside of China."
In response to the market reaction, Philips issued a statement reaffirming that its official 2026 outlook will be released as planned on February 10. The company emphasized it expects "comparative sales growth to accelerate sequentially in 2026 towards mid-single-digit growth" supported by "continued solid order momentum."