Company Reports

Wide-moat GE HealthCare is a top-three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

GE HealthCare's year-on-year revenue growth this quarter was 3.5% and adjusted EBIT margin was 14.2% (40 basis points lower than the prior-year period). Management reaffirmed full-year guidance ranges of 3.0% to 4.0% organic revenue growth and 15.4%-15.7% adjusted EBIT margin. Shares are up 11%.

GE HealthCare's year-on-year organic revenue growth was 2.9% and adjusted EBIT margin was 13.5% in the first quarter. Management lowered its full-year guidance for adjusted EBIT margin by about 40 basis points to 15.4%-15.7%, implying 10-50 basis points of improvement from the previous year.

Wide-moat GE HealthCare is a top-three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

Wide-moat GE HealthCare, or GEHC, is a top three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

GE Healthcare posted organic quarterly and full-year revenue growth of 4.8% and 3.5%, respectively. Adjusted 2025 EBIT margin was 15.3%. The 2026 outlook includes 3%-4% organic revenue growth and an EBIT margin of 15.8%-16.1%, a 50-80 basis-point improvement. Shares closed 5% higher on the day.

Wide-moat GE HealthCare, or GEHC, is a top three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

GE HealthCare reported year-over-year organic revenue growth of 3% and adjusted EBIT margin of 14.8%, which is 150 basis points worse than the same period last year. Management slightly narrowed its full-year guidance ranges, and the midpoint of its adjusted EPS guidance is now $4.57.

The US Commerce Department has launched an investigation into the national security impacts of importing personal protective equipment, medical consumables, and medical devices. Various medical technology companies' shares were down by low to mid-single digits in Sept. 25 intraday trading.

GE HealthCare reported organic revenue growth of 2% year on year and adjusted EBIT margin of 14.6%, which is 80 basis points worse than the same period last year. Full-year guidance for earnings per share was raised to $4.53 at the midpoint, which is 13% higher compared with April's guidance.

GE HealthCare reported organic revenue growth of 4% year on year and adjusted EBIT margin of 15%. It revised guidance for earnings per share downward by about 15% (using the midpoint of ranges) due to estimated impact from unmitigable tariffs, which it quantified as 0.85 per share for 2025.

Wide-moat GE HealthCare, or GEHC, is a top three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

We have completed a review of recent US and China policies that could potentially affect GE HealthCare's business, and our fair value estimate for the firm is no longer under review.

GE HealthCare's exposure to tariffs increased dramatically this week, with US tariffs on China imports rising to 54% and China announcing 34% retaliatory tariffs, an antidumping investigation, and reduced exports of rare earths.

Wide-moat GE HealthCare, or GEHC, is a top three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.

Wide-moat GE HealthCare reported fourth-quarter earnings that were in line with our expectations, with growth in the US and the patient diagnostics business offset by continued softness in China markets. Guidance was below our expectations, although we think management is baking in conservative expectations related to China’s rebound and the potential impact of any tariffs imposed by the US on China imports. We maintain our fair value estimate of $98 per share, and given recent market appreciation, we now view the stock as fairly valued.

Wide-moat GE HealthCare reported third-quarter earnings that were aligned with our expectations, with declines in China offsetting growth in other regions. Although the timing of the rebound in China sales remains unclear, we are encouraged by the company’s improving operating profit margins. We maintain our fair value of $98 per share and view shares as slightly undervalued at current market prices.

Wide-moat GE HealthCare reported second-quarter earnings that were in line with our expectations. Revenue was $4.8 billion, or 1% year-on-year organic growth, with significant growth in pharmaceutical diagnostics. The company reduced its full-year guidance, updating its forecast for organic revenue growth to 1%-2% from 4% because of lower sales in China. We maintain our fair value estimate of $98 per share, and although the shares have rallied about 11% since the beginning of July, we think the current market price is still attractive.

We initiate coverage on GE HealthCare, or GEHC, with a wide moat rating and a fair value estimate of $98 per share. We think it is an attractive long-term investment, and we believe the company’s stand-alone status will allow management to focus on research and development and ensure its position as one of the top three global leaders in the medical imaging market remains secure in the long run.

Wide-moat GE HealthCare, or GEHC, is a top three global leader in the medical imaging market. It has a firmly established footprint in hospitals and health networks around the world, and it is positioned to benefit from long-term healthcare trends, including aging populations, the growing demand for early detection and monitoring of cancer and other diseases, and increasing utilization of minimally invasive and noninvasive procedures.