GE HealthCare rises after reaffirming 2024 profit forecast
Updates
** Shares of medical device maker GE HealthCare GEHC.O rise as much as 6.8% to a three-month high of$88.25
** Co cuts annual organic sales growth forecast to 1%-2% from prior view of ~4% as freeze in China's healthcare sector due to anti-corruption drive weighs on itsmedical equipment unit
** "Despite the revenue shortfall, EPS guide has been maintained. The company continues to improve operating efficiencies. So they have managed to squeeze out enough from the OpEx line to essentially keep the EPS guide intact," Oppenheimer analyst Suraj Kalia says
** The relief is from the EPS guide being maintained - Kalia
** Co reaffirms annual adj. EPS forecast of $4.20 to $4.35
** GEHC's Q2 revenue of $4.84 bln misses estimates of $4.87 bln - LSEG
** However, co's Q2 adj. EPS of $1 beats analysts' avg estimate of 98 cents
** YTD, stock is up 12.71%
Reporting by Puyaan Singh
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