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Everett, Washington-based Fortive Corporation (FTV) operates as a technology company, providing industrial technology and professional instrumentation solutions across the globe. With a market cap of $15.8 billion, Fortive operates through Intelligent Operating Solutions and Advanced Healthcare Solutions segments.
Fortive has significantly underperformed the broader market over the past year. FTV stock has plunged 30.3% over the past 52 weeks and 36.5% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 20.6% surge over the past year and 9.6% returns in 2025.
Narrowing the focus, Fortive has also underperformed the sector-focused Technology Select Sector SPDR Fund’s (XLK) 29.4% surge over the past 52 weeks and 15.4% gains on a YTD basis.
Fortive’s stock prices dropped 2.5% following the release of its Q2 results on Jul. 30, as its financials missed Street expectations. The company spun off its former Precision Technologies segment on Jun. 28, creating Ralliant Corporation. Its revenues from continuing operations dipped 39 bps year-over-year to slightly more than $1 billion. Meanwhile, its free cash flows from continuing operations dropped 9.1% year-over-year to $180 million.
Alongside, Fortive's margins also remained under pressure, with adjusted EBITDA margins contracting 20 bps year-over-year to 28.4% and adjusted EBITDA decreasing by 1% to $288 million. Moreover, its adjusted EPS of $0.58 missed the consensus estimates by 3.3%, making investors jittery.
For the full fiscal 2025, ending in December, analysts expect Fortive to deliver an adjusted EPS of $2.51, down 35.5% year-over-year. The company has a mixed earnings surprise history. While it surpassed or matched the Street’s bottom-line estimates thrice over the past four quarters, it missed the estimates on one other occasion.
Nevertheless, FTV maintains a consensus “Moderate Buy” rating overall. Of the 18 analysts covering the stock, opinions include six “Strong Buys,” one “Moderate Buy,” and 11 “Holds.”
This configuration is notably less bullish than a month ago, when the stock had eight “Strong Buy” recommendations.
On Jul. 15, TD Cowen analyst Joseph Giordano downgraded Fortive from “Buy” to “Hold” and lowered the price target from $85 to $50.
As of writing, FTV’s mean price target of $61.06 represents a 28.1% upside potential. Meanwhile, the street-high target of $90 suggests a staggering 88.9% premium to current price levels.
