GE HealthCare misses quarterly revenue estimates on weakness in China market
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BofA thinks the selloff in GE HealthCare (GEHC) may be overdone. Here's why
May 1, 2024 12:30 PM EDTFollowing a surprising miss in revenue and earnings per share (EPS) for the first quarter, shares of GE HealthCare (NASDAQ: GEHC) experienced a significant downturn, plummeting over 14% on Tuesday. The miss, which caught investors off guard, was driven by unexpected disruptions in China and a more pronounced second half ramp.
Despite the... More
GE HealthCare (GEHC) PT Lowered to $96 at Evercore ISI
April 30, 2024 12:05 PM EDTEvercore ISI analyst Vijay Kumar lowered the price target on GE HealthCare (NASDAQ: GEHC) to $96.00 (from $100.00) while maintaining a Outperform rating.
The analyst comments "GEHC reported org rev declines of -50 bps, with revs of $4.65 Bn coming in ~150M or 3% below ST. The miss was mainly driven by lower capital sales (MRI, CT, ultrasound & monitoring/vents) and was partly offset by better PDx. Geographically, the miss was driven by China as customers paused due to stimulus announcement. 1Q also had some order fulfillment issues in its PCS segment. On the positive side, GMs were up... More
