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GE HealthCare Technologies (GEHC) Laps the Stock Market: Here's Why

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The latest trading session saw GE HealthCare Technologies (GEHC - Free Report) ending at $86.21, denoting a +1.96% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.

The medical technology company's shares have seen a decrease of 4.5% over the last month, surpassing the Medical sector's loss of 5.82% and falling behind the S&P 500's loss of 4.16%.

Investors will be eagerly watching for the performance of GE HealthCare Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. In that report, analysts expect GE HealthCare Technologies to post earnings of $0.90 per share. This would mark year-over-year growth of 5.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.81 billion, up 2.19% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $4.30 per share and a revenue of $20.34 billion, demonstrating changes of +9.41% and +4.05%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for GE HealthCare Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GE HealthCare Technologies is holding a Zacks Rank of #4 (Sell) right now.

In terms of valuation, GE HealthCare Technologies is currently trading at a Forward P/E ratio of 19.61. This valuation marks a discount compared to its industry's average Forward P/E of 23.93.

It is also worth noting that GEHC currently has a PEG ratio of 2.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Medical Info Systems industry was having 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 94, this industry ranks in the top 38% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on

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