The book-to-bill ratio of $MEDP (-3.63%) was significantly below expectations: 0.88 vs 0.98
Management did not mention whether this was due to a lower order intake or canceled contracts.
At the same time, guidance was raised to 9-13% sales growth.
As the book-to-bill ratio reflects the medium-term order situation, the stock market reacted much more strongly to this than to the increased guidance for 2026.
Personal classification: the book to bill is still solid, but the trend is not positive! You should keep an eye on the next few quarters. In times of economic weakness, however, it is legitimate for bookings to be processed somewhat faster than new ones come in. We are currently not in an investment-friendly environment in the USA
