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GE HealthCare Technologies (GEHC) Stock Moves -0.17%: What You Should Know

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GE HealthCare Technologies (GEHC - Free Report) closed the latest trading day at $86.13, indicating a -0.17% change from the previous session's end. This change was narrower than the S&P 500's 1.2% loss on the day. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 1.79%.

Prior to today's trading, shares of the medical technology company had lost 3.5% over the past month. This has was narrower than the Medical sector's loss of 6.57% and lagged the S&P 500's loss of 0.85% in that time.

The investment community will be closely monitoring the performance of GE HealthCare Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. The company is predicted to post an EPS of $0.90, indicating a 5.88% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.81 billion, up 2.19% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.30 per share and revenue of $20.34 billion. These totals would mark changes of +9.41% and +4.05%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GE HealthCare Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. GE HealthCare Technologies is holding a Zacks Rank of #4 (Sell) right now.

In the context of valuation, GE HealthCare Technologies is at present trading with a Forward P/E ratio of 20.07. This valuation marks a discount compared to its industry's average Forward P/E of 23.93.

Meanwhile, GEHC's PEG ratio is currently 3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical Info Systems industry currently had an average PEG ratio of 2.53 as of yesterday's close.

The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 38% of all industries, numbering over 250.

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.

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