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Here's Why GE HealthCare Technologies (GEHC) Gained But Lagged the Market Today

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The latest trading session saw GE HealthCare Technologies (GEHC - Free Report) ending at $84.55, denoting a +0.07% adjustment from its last day's close. This change lagged the S&P 500's 0.87% gain on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.

Heading into today, shares of the medical technology company had lost 5.84% over the past month, outpacing the Medical sector's loss of 6.67% and lagging the S&P 500's loss of 3.97% in that time.

The upcoming earnings release of GE HealthCare Technologies will be of great interest to investors. The company's earnings report is expected on April 30, 2024. It is anticipated that the company will report an EPS of $0.90, marking a 5.88% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.81 billion, up 2.19% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.30 per share and a revenue of $20.34 billion, signifying shifts of +9.41% and +4.05%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for GE HealthCare Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GE HealthCare Technologies is holding a Zacks Rank of #4 (Sell) right now.

With respect to valuation, GE HealthCare Technologies is currently being traded at a Forward P/E ratio of 19.65. This signifies a discount in comparison to the average Forward P/E of 23.83 for its industry.

Meanwhile, GEHC's PEG ratio is currently 2.94. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Medical Info Systems industry held an average PEG ratio of 2.47.

The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% 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.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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