Here's What to Expect From GE HealthCare's Next Earnings Report

Chicago-based GE HealthCare Technologies Inc. (GEHC) is a leading global medical technology company with a market cap of $41.6 billion. It develops and markets products and digital solutions for patient diagnosis, treatment, and monitoring, including imaging, ultrasound, and patient monitoring equipment, as well as services like performance management and cybersecurity. The healthcare equipment giant is expected to lift the curtains on its fiscal Q3 earnings results on Tuesday, Oct. 29. 

Ahead of this event, analysts are expecting GEHC to report a profit of $1.06 per share, up 7.1% from $0.99 per share in the year-ago quarter. The company holds an impressive track record of meeting or surpassing Wall Street's bottom-line estimates each of the last four quarters. The company's adjusted EPS for the last reported quarter beat the consensus EPS estimate by 2%.

For fiscal 2024, analysts expect GEHC to report EPS of $4.26, up 8.4% from $3.93 in fiscal 2023. Looking forward to fiscal 2025, EPS is expected to grow by 10.8% annually to $4.72.

GE Healthcare shares have soared 36.5% over the past 52 weeks, overshadowing the broader S&P 500 Index’s ($SPX) 35.4% gains over the same period. Similarly, it has outshined the S&P 500 Healthcare Sector SPDR Fund’s (XLV) 18.9% gains over the same time frame.

GE Healthcare Technologies fell over 1% on Sept. 26 following UBS Group AG’s (UBS) downgrade of the stock from “Neutral” to “Sell,” with a revised price target of $74.

Moreover, on Sep. 13, GEHC shares fell more than 1% after holder Morgan Stanley (MS) offered 10 million shares in a secondary underwritten public offering.

Analysts' consensus rating on GEHC stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among the 18 analysts covering the stock, 11 recommend a "Strong Buy," six give a "Hold" rating, and the remaining one analyst suggests a “Strong Sell.” This configuration is slightly more bullish than a month ago, with ten “Strong Buy” ratings. 

The average analyst price target for GEHC is $96.44, suggesting a potential upside of 5.3% from the current price levels.

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On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.