GE HealthCare is down 8% in early trading on Wall Street, despite the publication of adjusted EPS up 6% to $0.90 and an adjusted operating margin improved by 0.5 points to 14.7% for the first quarter of 2024.

At $4.6 billion, the medical technology group's revenues fell by 1% on a reported basis and remained flat on an organic basis, with a contraction in volumes partly offset by price increases.

GE HealthCare reaffirms its targets for 2024 as a whole, including adjusted EPS of between $4.20 and $4.35, adjusted operating margin of between 15.6% and 15.9%, and organic revenue growth of around 4%.

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