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Here's Why GE HealthCare Technologies (GEHC) Fell More Than Broader Market
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GE HealthCare Technologies (GEHC - Free Report) closed at $87.71 in the latest trading session, marking a -0.86% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.03%.
Prior to today's trading, shares of the medical technology company had lost 5.75% over the past month. This has lagged the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57% in that time.
Analysts and investors alike will be keeping a close eye on the performance of GE HealthCare Technologies in its upcoming earnings disclosure. The company is expected to report EPS of $0.90, up 5.88% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.81 billion, up 2.19% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.30 per share and a revenue of $20.34 billion, indicating changes of +9.41% and +4.05%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for GE HealthCare Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, GE HealthCare Technologies holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that GE HealthCare Technologies has a Forward P/E ratio of 20.57 right now. This indicates a discount in contrast to its industry's Forward P/E of 24.49.
Investors should also note that GEHC has a PEG ratio of 3.08 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical Info Systems stocks are, on average, holding a PEG ratio of 2.54 based on yesterday's closing prices.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Here's Why GE HealthCare Technologies (GEHC) Fell More Than Broader Market
GE HealthCare Technologies (GEHC - Free Report) closed at $87.71 in the latest trading session, marking a -0.86% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.03%.
Prior to today's trading, shares of the medical technology company had lost 5.75% over the past month. This has lagged the Medical sector's loss of 0.6% and the S&P 500's gain of 2.57% in that time.
Analysts and investors alike will be keeping a close eye on the performance of GE HealthCare Technologies in its upcoming earnings disclosure. The company is expected to report EPS of $0.90, up 5.88% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.81 billion, up 2.19% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.30 per share and a revenue of $20.34 billion, indicating changes of +9.41% and +4.05%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for GE HealthCare Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, GE HealthCare Technologies holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that GE HealthCare Technologies has a Forward P/E ratio of 20.57 right now. This indicates a discount in contrast to its industry's Forward P/E of 24.49.
Investors should also note that GEHC has a PEG ratio of 3.08 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical Info Systems stocks are, on average, holding a PEG ratio of 2.54 based on yesterday's closing prices.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.