GE HealthCare Technologies delivered a better-than-expected third quarter and raised the low end of its full-year outlook as it continues to see strong global demand for its medical equipment and consumables technology — prompting us to reiterate a buy rating on the stock. Total revenue for the three months ended Sept. 30 increased more than 5% year-over-year, to $4.83 billion, beating analysts' expectations of $4.81 billion, according to LSEG.
Interestingly, revenue and orders both increased year-over-year in China. That comes on the heels of investor concern over the Chinese market given an ongoing anti-corruption campaign in the country that has targeted the health-care industry. So, it was a relief to hear management say it continues to expect a limited impact from that headwind. Notably, management said that it started to see some deals taking longer to close in the U.S.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European shares rise on healthcare boost, retreating bond yieldsEuropean shares rise on healthcare boost, retreating bond yields
Source: Investingcom - 🏆 450. / 53 Read more »
GE HealthCare beats Q3 profit estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »
GE HealthCare beats quarterly profit estimates on imaging device demandGE HealthCare Technologies Inc (GEHC.O) on Tuesday beat Wall Street expectations for third-quarter profit as a continued recovery in demand for surgical procedures boosted sales of its medical devices.
Source: Reuters - 🏆 2. / 97 Read more »
Technology Can Help Solve The Affordability Crisis While Boosting The Bottom Line For Healthcare Organizations NationwideI cover consumer-centric insights and analytics that provide executives with solutions needed to drive strategy. I am the CEO of Prosper Business Development where, for more than 20 years, we have provided market leadership and developed contemporary solutions to help Fortune 500 companies navigate change that impacts their business.
Source: ForbesTech - 🏆 318. / 59 Read more »
Bringing Non-Technical Leaders To The AI Table: A Healthcare PerspectiveEthan Davidoff, Founder and CEO, Atlas Health. Read Ethan Davidoff's full executive profile here.
Source: ForbesTech - 🏆 318. / 59 Read more »
Kaiser reaches tentative agreement with Washington healthcare workers, averting strikeThe union said details of the deal won’t be made available until after the vote.
Source: KIRO7Seattle - 🏆 271. / 63 Read more »