GE HealthCare Technologies Inc. · GEHC · FY2024 Q4 · Calendar Q1 2025

GE HealthCare enters 2025 with record backlog and margin momentum

The supplied analysis supports a cautiously constructive operating thesis: broad order growth, record backlog, margin expansion, AI-enabled products, and radiopharmaceutical launches provide growth avenues, but China exposure, tariffs, inventory, and launch execution limit confidence in durability.

Reported Before market openNASDAQHealthcare $31.42B market cap
70quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $1.26
EPS surprise — Reported versus consensus
Reported revenue — Consensus $5.33B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +8.8% Event window
SPY move +1.1% Same window
Abnormal move +7.8% Stock minus SPY
Volume 3.3× Versus trailing sessions
Subsequent drift -12.3% Up to 20 sessions
GEHCSPY benchmark

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Transcript intelligence

What changed

The call highlighted record backlog, a 1.09 book-to-bill ratio, a $1 billion Sutter Health Care Alliance, and a $138 million Ireland Contrast Media investment, while maintaining 2025 guidance.

Guidance delta

Management maintained guidance, with 2025 outlook calling for 2–3% organic revenue growth and adjusted EBIT margin of 16.7–16.8%.

Key takeaways

  • Management described orders growing across all segments, supporting a record backlog and book-to-bill above 1.0.
  • The U.S. remained the main growth engine, while China showed modest recovery but continued to present volatility risk.
  • AI-enabled products, Flyrcado, enterprise agreements, and radiopharmaceutical capacity were highlighted as growth opportunities.

Management priorities

  • Commercialize Flyrcado and expand radiopharmaceutical capabilities.
  • Scale AI-enabled imaging and ultrasound products and pursue additional enterprise partnerships.
  • Expand Contrast Media manufacturing capacity in Ireland while managing inventory, tariffs, and China exposure.

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Earnings History

Estimate Beat Miss Match
GEHC EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $0.91 Q1 '24 actual $0.90, match Q2 '24 estimate $0.98 Q2 '24 actual $1.00, beat Q3 '24 estimate $1.05 Q3 '24 actual $1.14, beat Q2 '25 estimate $0.92 Q2 '25 actual $1.06, beat Q3 '25 estimate $1.05 Q3 '25 actual $1.07, beat Q4 '25 estimate $1.40 Q4 '25 actual $1.44, beat Q1 '26 estimate $1.04 Q1 '26 actual $0.99, miss Q2 '26 estimate $1.04 Q2 '26 actual $1.13, beat Q3 '26 estimate $1.21 Q4 '26 estimate $1.62 Q1 '27 estimate $1.13
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Analyst Consensus ?

ConsensusBuy19 ratings
Bullish1157.9%
Neutral842.1%
Bearish00.0%

Analyst 52W Price Targets

$69.57Previous close
$65Low
$86.23Average
$110High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
BTIG Buy BuyMaintainOct 12, 2026
Needham Buy BuyMaintainOct 5, 2026
Citigroup Neutral NeutralMaintainOct 5, 2026
UBS Neutral NeutralMaintainJul 31, 2026
Wells Fargo Overweight OverweightMaintainJul 30, 2026
Evercore ISI Group Outperform OutperformMaintainJul 30, 2026
JP Morgan Neutral NeutralMaintainApr 30, 2026
Goldman Sachs Neutral BuyDowngradeApr 30, 2026
Barclays Equal Weight Equal WeightMaintainApr 30, 2026
Piper Sandler Overweight OverweightMaintainApr 17, 2026
Mizuho Outperform OutperformMaintainApr 13, 2026
Stifel Buy BuyMaintainFeb 5, 2026
Morgan Stanley Equal Weight Equal WeightMaintainFeb 5, 2026
B of A Securities Neutral NeutralMaintainJan 5, 2026
Jefferies Buy BuyMaintainDec 11, 2025
Argus Research Buy BuyMaintainApr 1, 2024
Oppenheimer Outperform OutperformMaintainMay 16, 2023
Redburn Partners Buy BuyMaintainJan 19, 2023
Edward Jones Hold HoldMaintainJan 4, 2023
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Named analyst price targets

Upside is calculated against the persisted previous close $69.57. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BarclaysAnalyst unavailable$85$64.77 +22.2%Oct 6, 2026
NeedhamAnalyst unavailable$93$64.81 +33.7%Sep 22, 2026
Evercore ISIAnalyst unavailable$84$69.06 +20.7%Jul 30, 2026
BTIGAnalyst unavailable$79$71.54 +13.6%Jul 29, 2026
UBSAnalyst unavailable$67$64.23 -3.7%Jul 16, 2026
BTIGRyan Zimmerman$75$64.7 +7.8%Jul 13, 2026
BMO CapitalAnalyst unavailable$70$64.68 +0.6%Jul 8, 2026
RBC CapitalAnalyst unavailable$80$60.64 +15.0%Jun 23, 2026
UBSGraham Doyle$69$64.26 -0.8%May 21, 2026
Evercore ISIAnalyst unavailable$80$59.81 +15.0%Apr 30, 2026
OppenheimerSuraj Kalia$85$60.04 +22.2%Apr 30, 2026
BarclaysMatt Miksic$78$59.48 +12.1%Apr 30, 2026
Goldman SachsDavid Roman$65$59.48 -6.6%Apr 30, 2026
Stifel NicolausAnalyst unavailable$80$60.06 +15.0%Apr 29, 2026
Piper SandlerAnalyst unavailable$88$73.2 +26.5%Apr 17, 2026
Mizuho SecuritiesAnalyst unavailable$90$72.69 +29.4%Apr 13, 2026
BarclaysAnalyst unavailable$87$82.31 +25.1%Feb 6, 2026
Stifel NicolausRick Wise$98$82.63 +40.9%Feb 4, 2026
Morgan StanleyAnalyst unavailable$85$82.63 +22.2%Feb 4, 2026
BTIGRyan Zimmerman$91$83.7 +30.8%Feb 4, 2026
Piper SandlerAnalyst unavailable$94$78.78 +35.1%Jan 30, 2026
UBSAnalyst unavailable$77$85.3 +10.7%Jan 15, 2026
Goldman SachsAnalyst unavailable$98$88.16 +40.9%Jan 9, 2026
Stifel NicolausAnalyst unavailable$95$86.73 +36.6%Jan 7, 2026
Evercore ISIAnalyst unavailable$95$84.2 +36.6%Jan 5, 2026
JefferiesAnalyst unavailable$105$85.54 +50.9%Dec 11, 2025
Stifel NicolausRick Wise$90$76.29 +29.4%Nov 21, 2025
Wells FargoLarry Biegelsen$87$77.38 +25.1%Oct 30, 2025
BTIGAnalyst unavailable$87$77.38 +25.1%Oct 29, 2025
BTIGRyan Zimmerman$89$71.01 +27.9%Oct 13, 2025
BarclaysAnalyst unavailable$86$71.01 +23.6%Oct 13, 2025
Morgan StanleyAnalyst unavailable$74$74 +6.4%Sep 18, 2025
UBSGraham Doyle$73$69.37 +4.9%May 5, 2025
BTIGRyan Zimmerman$95$64.39 +36.6%Apr 14, 2025
Piper SandlerJason Bednar$97$82.08 +39.4%Nov 15, 2024
UBSGraham Doyle$74$93.01 +6.4%Sep 26, 2024
Bank of America SecuritiesCraig Bijou$97$90.62 +39.4%Sep 20, 2024
BTIGRyan Zimmerman$100$86.79 +43.7%Sep 18, 2024
Goldman SachsDavid Roman$87$78.45 +25.1%May 30, 2024
Piper SandlerJason Bednar$92$81.5 +32.2%May 21, 2024
Mizuho SecuritiesAnthony Petrone$105$77.74 +50.9%May 1, 2024
Evercore ISIVijay Kumar$96$76.24 +38.0%Apr 30, 2024
Mizuho SecuritiesAnthony Petrone$110$85.39 +58.1%Apr 11, 2024
Argus ResearchDavid Toung$110$90.91 +58.1%Apr 1, 2024
UBSGraham Doyle$88$83.17 +26.5%Feb 12, 2024
Morgan StanleyPatrick Wood$76$77.17 +9.2%Jun 27, 2023
OppenheimerSuraj Kalia$97$77 +39.4%May 16, 2023
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Company context

Snapshot as of publication

GE HealthCare Technologies Inc. is a global medical technology company that creates, manufactures, and markets a diverse range of medical devices, services, and integrated digital solutions. These offerings are designed to assist in the diagnosis, treatment, and ongoing monitoring of patients. The company boasts an extensive international presence, serving markets across the United States, Canada, Europe, the Middle East, Africa, China, Taiwan, Mongolia, and Hong Kong, among other regions. Its operations are structured across four primary business divisions: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics. The Imaging division specializes in advanced diagnostic imaging technologies, including systems for molecular imaging, Computed Tomography (CT) scans, Magnetic Resonance (MR) imaging, image-guided therapy, and X-ray, alongside specialized women's health products.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-30T00:03:07.291072+00:00
  3. Polygon adjusted daily market bars · 2026-10-19T11:10:43.304163+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T11:10:43.301306+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.