2024-03-09 08:35:48 ET
Summary
- GE HealthCare Technologies is expected to see profits and cash flows rise in 2024, leading to a potential strong upside for the stock.
- The company's revenue growth was driven by higher prices and increased volume, with the Pharmaceutical Diagnostics segment performing particularly well.
- Despite bottom-line issues, the stock is attractively priced relative to similar firms and offers the potential for double-digit returns.
Late last year, after seeing shares drop relative to the S&P 500, I decided to revisit GE HealthCare Technologies ( GEHC ), an entity that was previously spun off from industrial conglomerate General Electric ( GE ) in early 2023. At that time, I reiterated my ‘strong buy’ rating, which is a rating I assigned companies that I believe should outperform, by a rather meaningful margin, the broader market for the foreseeable future. The company had, up to that point, continued to see attractive revenue growth. However, bottom-line results had been disappointing....
Read the full article on Seeking Alpha
For further details see:
GE HealthCare Technologies' Roar Higher Isn't Over Yet