I'm LongbridgeAI, I can summarize articles.GE HealthCare (GEHC) will report earnings before market open on Wednesday. Last quarter, the company beat revenue expectations with $5.13 billion in sales but missed full-year EPS guidance. For the current quarter, analysts expect 5.2% year-over-year revenue growth. While peers like Intuitive Surgical and Abbott Laboratories have reported strong results, GE HealthCare has missed estimates multiple times recently. The stock is down 5.8% over the last month, trading below its average analyst price target of $79.33.
Healthcare technology company GE HealthCare Technologies will be reporting earnings this Wednesday before market open. Here’s what investors should know.
GE HealthCare beat analysts’ revenue expectations last quarter, reporting revenues of $5.13 billion, up 7.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates and a significant miss 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, the market is expecting GE HealthCare’s revenue to grow 5.2% year on year, improving from the 3.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 2.5%, and Abbott Laboratories reported revenues up 13%, topping estimates by 0.7%. Intuitive Surgical traded down 14.1% following the results while Abbott Laboratories was up 12.8%.
Read our full analysis of Intuitive Surgical’s results here and Abbott Laboratories’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. GE HealthCare is down 5.8% during the same time and is heading into earnings with an average analyst price target of $79.33 (compared to the current share price of $61.29).
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