GE Healthcare rises after report says China may suspend tariffs on medtech
Shares of medical device maker GE Healthcare Technologies GEHC.O rise 3% to $69.03
China's government is considering suspending its 125% tariff on some U.S imports, including medical equipment and some industrial chemicals like ethane, according to a Bloomberg News report
Brokerage J.P. Morgan says it will benefit players like GEHC since hospitals in China still rely on advanced medical equipment, including large capital like surgical robots, MRI and ultrasound machines, for which domestic competition is lagging
GEHC has previously said it expects its full-year profit to be hit due to U.S. tariffs imposed on products from China
The company's China sales declined 15% in 2024, and it expects sales in the region to remain under pressure in the near term
Thirteen out of 19 brokerages rate the stock "buy" or higher, 5 rate "hold", 1 rate "sell" and their median PT is $96.36 as per data compiled by LSEG
Including session moves, GEHC stock down 11.1% YTD
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