Healthcare technology company GE HealthCare Technologies (NASDAQ: GEHC) will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
GE HealthCare beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $5.01 billion, up 3.5% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS 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, analysts are expecting GE HealthCare’s revenue to grow 4.2% year on year to $5.07 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.05 per share.
Analysts covering the company have generally 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 four times over the last two years.
Looking at GE HealthCare’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 3%, and Neogen reported a revenue decline of 3.6%, topping estimates by 2.6%. Intuitive Surgical traded up 13.9% following the results while Neogen was also up 3.7%.
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 7% on average over the last month. GE HealthCare is up 7.3% during the same time and is heading into earnings with an average analyst price target of $87.35 (compared to the current share price of $78.41).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
