(Zacks)General Electric Company (NYSE:GE) recently announced a collaboration with Temple University Health System (TUHS) to provide higher-quality radiologic imaging services at a lower cost
This is the first time a healthcare technology company and an academic medical center have jointly collaborated to align incentives for promoting value. Under the contract, TUHS and GE Healthcare will work together to deliver new technology and industry-best practices for the overall improvement of the healthcare industry.
TUHS will modernize its radiological imaging equipment with the latest technology from General Electric. This collaboration is likely to result in $39 million in operational savings. GE Healthcare will utilize its resources to increase reporting productivity and improve the accuracy of clinical outcomes with the latest imaging technology at low costs.
GE Healthcare provides transformational medical technologies and services by ensuring greater access to enhanced quality and affordable healthcare facilities across the globe. The initiative is likely to make GE Healthcare a preferred partner for academic medical centers across the U.S. and remain competitive and viable by continuing to deliver higher quality services at reduced costs.
General Electric, the parent of GE Healthcare, is one of the largest and most diversified technology and financial services corporations in the world with products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric Equity Analysis
General Electric Company (NYSE:GE) opened trading today as $24.52 and is trading in the range of 24.38-24.54 today. General Electric’s current market cap stands at $247.36 billion.
Compared to other peers in the Diversified Machinery sector, General Electric hasn’t performed in terms of quarterly revenue growth year over year at 0.02 vs. the industry average of 0.14. General Electric’s earnings per share is currently at -0.62, which is below then the sector average of 0.51.
General Electric is currently covered by 17 Wall Street analysts. The mean target price is $30.08 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 2.2 which is based on 5 Strong Buy, 4 Buy and 8 Hold ratings.
The most recent analyst actions consisted of UBS initiating the stock on January 22nd and RBC Capital Mkts initiating coverage with an initiation rating back in November.
The current quarter EPS consensus estimate is .26 with revenue estimates of 29.01B. Sales are expected to drop at a 19.80% rate. General Electric reported actual earnings last quarter of 0.31 which beats the .28 consensus estimate, a 10.70% surprise.
Corporate Profile
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The companys Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its Oil and Gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment. The companys Energy Management segments offers plant automation hardware, software, and embedded computing systems, including controllers, embedded systems, advanced software, motion control, operator interfaces, and industrial computers. Its Aviation segment offers jet engines; aerospace systems and equipment; and replacement parts and repair and maintenance services for commercial and military aircraft, marine applications, and executive and regional aircraft. The companys Healthcare segment provides medical imaging, software and information technology (IT), patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement solutions. Its Transportation segment offers freight and passenger locomotives, and diesel engines for rail, marine, and stationary power applications; railway signaling and communications systems; underground mining equipment; motorized drive systems; IT solutions; and replacement parts and value added services.
