GE HealthCare's standout quarter shows why it's a company to own

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Shares of the medical equipment firm soared roughly 5% on the back of its third-quarter results.

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.

 

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