Healthcare technology company GE HealthCare Technologies (NASDAQ: GEHC) will be reporting earnings this Wednesday before market open. Here’s what to look for.
GE HealthCare beat analysts’ revenue expectations last quarter, reporting revenues of $5.70 billion, up 7.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a solid beat of analysts’ organic revenue estimates.
Is GE HealthCare a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting GE HealthCare’s revenue to grow 5.2% year on year, improving from the 2.8% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GE HealthCare has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at GE HealthCare’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 23%, beating analysts’ expectations by 5.8%, and Neogen reported a revenue decline of 4.4%, topping estimates by 3.4%. Intuitive Surgical traded up 7.2% following the results while Neogen was down 8.9%.
Read our full analysis of Intuitive Surgical’s results here and Neogen’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 11% on average over the last month. GE HealthCare is up 2.4% during the same time and is heading into earnings with an average analyst price target of $90.74 (compared to the current share price of $70.41).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
