GE HealthCare beats quarterly profit estimates on imaging device demand

A logo is displayed on a GE digital anesthesia carestation as U.S. Vice President Mike Pence (not pictured) visits a GE Healthcare manufacturing facility during the global coronavirus disease (COVID-19) outbreak in Madison, Wisconsin, U.S. April 21, 2020. REUTERS/Daniel Acker/ File Photoon Tuesday beat Wall Street expectations for third-quarter profit as a continued recovery in demand for surgical procedures boosted sales of its medical devices.

Demand for medical devices has seen a surge following a sharp decline in COVID-19 infections as customers, particularly older adults, in the United States are returning to hospitals for procedures such as hip and knee replacements, and healthcare staffing shortages ease.its quarterly profit estimates, aided by a recovery in sales of its medical devices such as heart valves and pacemakers.

GE HealthCare also raised the low end of its annual adjusted profit forecast range to $3.75 per share from $3.70, while maintaining its top end at $3.85.curbs on reimbursement of a non-invasive imaging test called amyloid PET used to diagnose Alzheimer’s, providing broader access to PET scanners made by companies like GE HealthCare that were only accessible for use in limited spaces like clinical trials.

The company reported total quarterly sales of $4.82 billion for the third quarter ended Sept. 30, beating analysts’ estimate of $4.81 billion. $2.64 billion of the sales came from imaging devices, in line with estimates.categoryGermany’s Uniper , which was bailed out during Europe’s energy crisis, swung to a nine-month net profit of 9.77 billion euros ($10.35 billion), boosted by falling gas prices that mean the group no longer expects to make a loss on its purchases.

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