How Can I Beat the S&P 500? What the Evidence Says
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GEHC Stock vs the S&P 500: Returns, Risk and Crash History
GE HealthCare Technologies Inc., healthcare (market value $32.3 billion), a member of the S&P 500 and the Nasdaq‑100: how it compared with the S&P 500, how it behaved in every crash since 2008, its risk‑adjusted returns and what analysts said. Data as of Oct 30, 2026.
What changed since Oct 26
Exent re-checks this page every day. Ratings appear 30 days after they are published; the top‑ranked analysts’ calls are not counted here, they are in Gems.
70% Buy ratings (was 65%)3 4★+ analysts covering (was 2)+2.4% 1‑year return through Oct 30 (was −12.8%)
Key takeaways
- GEHC returned +15.7% over the 3 years to Oct 30, 2026 versus +87.4% for the S&P 500: it lagged the index.
- Its 3-year Sharpe ratio was 0.17 against 1.43 for the S&P 500.
- Its deepest crisis drawdown was −36.5% in the 2025 tariff selloff (S&P 500: −19.0%).
- Five‑year volatility was 33.1% and beta 0.68.
- 22 analysts rated it in the past year; 70% of their latest calls were Buy.
- GEHC beat earnings estimates in 10 of its last 12 reports; the stock moved 6.8% on average, up or down, around each report.
What do the best‑ranked analysts on GEHC say now? See it in Exent Gems →
In this article
- Did GEHC beat the S&P 500?
- What Wall Street analysts say about GEHC
- GEHC returns by year vs the S&P 500
- GEHC risk-adjusted returns: Sharpe, Sortino and volatility
- How GEHC behaved in past crashes
- What moves with GEHC, and what doesn’t
- Latest GEHC upgrades, downgrades and price‑target changes
- Do analysts get GEHC right?
- How GEHC moves after earnings
- Where GEHC’s revenue comes from
- Members of Congress who traded GEHC
- Are GEHC insiders buying or selling?
- How much of GEHC is sold short?
- How many institutions own GEHC?
- Is GEHC diluting shareholders?
- GEHC financial health scores
- What GEHC talks about on earnings calls
- Which ETFs hold GEHC?
- The right benchmark for GEHC
- Other healthcare stocks
- Data and methodology
Did GEHC beat the S&P 500?
Over the 3 years to Oct 30, 2026, GE HealthCare Technologies Inc. (GEHC) returned +15.7% including dividends, versus +87.4% for the S&P 500 (SPY). It lagged the index by 71.7 percentage points, or +5.0% a year against +23.3%.
| Period | GEHC | S&P 500 | GEHC per year | S&P 500 per year | Result |
|---|---|---|---|---|---|
| 1 year | +2.4% | +12.0% | +2.4% | +12.0% | Lagged |
| 3 years | +15.7% | +87.4% | +5.0% | +23.3% | Lagged |
| Period | 1 year | 3 years |
|---|---|---|
| GEHC | +2.4% | +15.7% |
| S&P 500 | +12.0% | +87.4% |
| GEHC per year | +2.4% | +5.0% |
| S&P 500 per year | +12.0% | +23.3% |
| Result | Lagged | Lagged |
Total return with dividends reinvested, from month-end prices to Oct 30, 2026. Beating the index on raw return is only half the story: the next section adjusts for the risk taken. See also how to beat the S&P 500.
GEHC is in the S&P 500 and the Nasdaq‑100 (members as of Oct 20, 2026); the lists show every member’s return against the index.
What Wall Street analysts say about GEHC
In the 12 months to 30 days ago, 22 analysts published 205 ratings on GEHC. Their latest calls were 70% Buy, 30% Hold and 0% Sell. 3 of them rank 4★ or higher in Exent’s analyst scoring, which is based on each analyst’s past price‑target hit rate and returns.
The consensus 12‑month price target was $93.47 (range $75.00–$110.00), +17.5% from the last price. Remember that the average analyst’s target is hit only about half the time: how accurate are price targets?
| Top‑ranked analyst covering | Firm | Stars | Price‑target hit rate |
|---|---|---|---|
| David Toung | Argus Research | 4.7★ | 43.0% |
| Anthony Petrone | Mizuho Securities | 4.7★ | 44.4% |
| Vijay Kumar | Evercore ISI | 4.6★ | 54.9% |
Ratings are shown with a 30‑day delay. Who the top‑ranked analysts on GEHC are, their live calls and the median target of only the top‑rated analysts are in Exent Gems.
The average analyst’s target is reached about 53.1% of the time; Exent Gems is built on the top 50 of Exent’s ranking,where some reached 90% or more over the last two years. Unlock the top 50 analysts.
GEHC returns by year vs the S&P 500
GEHC beat the S&P 500 in 1 of the 3 full calendar years shown.
| Year | GEHC | S&P 500 | Difference |
|---|---|---|---|
| 2026 (to Oct 30, 2026) | −6.4% | +11.7% | −18.1% |
| 2025 | +5.1% | +17.7% | −12.6% |
| 2024 | +1.3% | +24.9% | −23.6% |
| 2023 | +32.6% | +26.2% | +6.4% |
GEHC risk-adjusted returns: Sharpe, Sortino and volatility
Over 3 years, GEHC had a Sharpe ratio of 0.17 against 1.43 for the S&P 500, so it earned less return per unit of risk than the index. Its annualized volatility was 30.9% and its beta 0.68: it tended to move about 0.7× as much as the market.
| Metric | GEHC | S&P 500 |
|---|---|---|
| Annual return | +5.0% | +23.3% |
| Volatility (annualized) | 30.9% | 12.3% |
| Sharpe ratio | 0.17 | 1.43 |
| Sortino ratio | 0.25 | 3.02 |
| Max drawdown (month-end) | −35.0% | −7.6% |
| Beta to the S&P 500 | 0.68 | 1.00 |
Sharpe divides return above cash by total volatility; Sortino counts only downside volatility. Both use monthly returns and the 1–3 month T‑bill ETF (BIL) as the risk‑free rate.
How GEHC behaved in past crashes
GEHC’s deepest fall in the crises below was −36.5% in the 2025 tariff selloff, against −19.0% for the S&P 500. The last column turns that into money: what a $100,000 position would have lost from peak to trough.
| Crisis | GEHC | S&P 500 | Loss on $100,000 |
|---|---|---|---|
| 2025 tariff selloff | −36.5% | −19.0% | −$36,500 |
| Window | GEHC max drawdown |
|---|---|
| Last 1 year | −32.5% |
| Last 3 years | −37.4% |
| Last 5 years | −37.4% |
| Last 10 years | −37.4% |
Peak‑to‑trough declines from daily prices inside each crisis window. A crash replay does not predict the next crisis; it shows how much room a holding needs. Run the same replay on a whole portfolio with the crash test.
What moves with GEHC, and what doesn’t
Correlation runs from −1 (moves opposite) to +1 (moves in lockstep). Over the last 36 months of monthly returns, GEHC’s correlation with the S&P 500 was 0.27, with the Nasdaq‑100 0.02, with long Treasuries (TLT) 0.49 and with gold (GLD) 0.13.
| Least correlated large caps | Correlation | Most correlated large caps | Correlation |
|---|---|---|---|
| GOOGL | −0.26 | LOW | 0.65 |
| MRVL | −0.25 | ABT | 0.63 |
| INTC | −0.20 | HD | 0.61 |
| PANW | −0.19 | ECL | 0.61 |
| WDC | −0.18 | PLD | 0.57 |
Holdings that are highly correlated behave like one position in a selloff. See how to find hidden overlap.
Latest GEHC upgrades, downgrades and price‑target changes
| Date | Rating and target | Analyst |
|---|---|---|
| Oct 29 | Target raised Buy | Anthony Petrone |
| Sep 22 | New coverage Buy | David Saxon |
Named analysts’ rating and price‑target changes on GEHC in the 5 weeks to Oct 4, 2026, shown 30 days after publication (the free analysts’ calls 3 days after). The top‑ranked analysts’ calls are in Exent Gems. See all of the latest analyst upgrades and downgrades.
Do analysts get GEHC right?
Of the 157 analyst price targets on GEHC set from 2019 until a year ago, 43.9% were reached within 12 months (data to Oct 20, 2026), 24.7 points below the 68.6% hit rate of the median stock in Exent’s study of 794 stocks. Targets that were reached took a median of 69 days. The median target sat 16.6% above the share price on the day it was set.
Where analysts said GEHC would be by now: a year ago, 9 analysts had a price target on GEHC, and the median of their latest targets was $87.00. On Oct 20, 2026 GEHC closed at $70.25, 19.3% below it.
43.9%of targets reached within 12 monthsMedian stock: 68.6%
69 daysmedian time to reach a target
−19.3%price now vs the median target set a year ago
| After | Calls | Move on the call | 3 months vs S&P 500 |
|---|---|---|---|
| Upgrades of GEHC | 7 | +0.7% | −10.2% |
| Upgrades, all stocks | 11,514 | +2.5% | +3.4% |
| Downgrades of GEHC | 6 | −1.8% | +0.8% |
| Downgrades, all stocks | 10,700 | −3.0% | −1.6% |
The move on the call runs from the close before the rating change to the close after it; the last column is the stock’s return minus the S&P 500’s over the next three months. Averages of rating changes on GEHC through Sep 15, 2026; analysts are not named here. Do analyst upgrades move stocks?
How GEHC moves after earnings
GEHC beat the consensus earnings‑per‑share estimate in 10 of its last 12 quarterly reports, through the one on Jul 29, 2026, and the revenue estimate in 8 of 12. From the close before each report to the close after it, the stock moved 6.8% on average, up or down, against 6.8% for the average report across the 1,002 US stocks Exent tracks. It rose after 7 of the 12 reports. In 3 of the 10 beats the stock still fell.
10/12earnings beats
±6.8%average move per report
7/12reports followed by a rise
| Report | EPS vs estimate | Revenue vs estimate | Stock move |
|---|---|---|---|
| Jul 29, 2026 | $1.13 vs $1.04 | +0.6% | +9.1% |
| Apr 29, 2026 | $0.99 vs $1.04 | +1.8% | −11.2% |
| Feb 4, 2026 | $1.44 vs $1.40 | +1.5% | +4.5% |
| Oct 29, 2025 | $1.07 vs $1.05 | +1.1% | −5.5% |
| Jul 30, 2025 | $1.06 vs $0.92 | +0.7% | −8.2% |
| Apr 30, 2025 | $1.01 vs $0.91 | +2.5% | −0.6% |
| Feb 13, 2025 | $1.45 vs $1.26 | −0.2% | +7.3% |
| Oct 30, 2024 | $1.14 vs $1.05 | −0.1% | +2.4% |
Reported earnings per share against the consensus estimate, revenue surprise in percent, and the stock’s price change over the two sessions around the report. How stocks move after earnings
Where GEHC’s revenue comes from
In fiscal 2025 (the year to Dec 31, 2025), 9.8% of GEHC’s $20.6 billion revenue came from China, down from 10.9% in fiscal 2024. By region: Other Countries 45.7%; United States 44.4%; China 9.8%.
By business, the largest segment was Imaging Segment, with 60.7% of $15.2 billion revenue (+4.4% on the year before).
| Segment | Revenue | Share | Growth |
|---|---|---|---|
| Imaging Segment | $9.2 billion | 60.7% | +4.4% |
| PCS Segment | $3.1 billion | 20.3% | −1.2% |
| PDx Segment | $2.9 billion | 19.0% | +15.6% |
From GEHC’s annual filings; segment growth compares fiscal 2025 with the year before. Regions are as each company reports them, so one company’s “Asia Pacific” is not another’s. China counts the regions a company reports as China, Greater China or Hong Kong; a separately reported Taiwan is not counted. Which S&P 500 companies depend most on China?
Members of Congress who traded GEHC
As of Oct 20, 2026, 7 members of Congress had disclosed 24 trades in GEHC (14 buys and 9 sales) in STOCK Act disclosures filed with the House and Senate. The latest public trade is dated Jul 30, 2026.
| Trade date | Member | Type | Amount |
|---|---|---|---|
| Jul 30, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Jul 7, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Jul 6, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Jul 2, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Jun 30, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Apr 13, 2026 | Ro Khanna | Buy | $1,001–$15,000 |
| Mar 27, 2026 | Alan Armstrong | Buy | $1,001–$15,000 |
| Mar 25, 2026 | Terri Sewell | Sale | $1,001–$15,000 |
| Mar 23, 2026 | Warren Davidson | Sale | $1,001–$15,000 |
| Jan 29, 2026 | Ro Khanna | Sale | $1,001–$15,000 |
Amounts are the ranges members report, not exact values. The STOCK Act gives members up to 45 days to disclose a trade, so trades appear weeks after they are made. See every member’s disclosed trades
One trade in GEHC disclosed in the last 30 days is in Exent Radar.
Are GEHC insiders buying or selling?
In the 12 months to Oct 20, 2026, GEHC insiders made 8 open‑market purchases worth $6.4 million by 8 insiders and no sales, according to SEC Form 4 filings.
After the 10 insider purchases of $10,000 or more since 2012, GEHC lagged the S&P 500 by an average of 21.6 percentage points over the next 12 months; none of them was followed by a beat. Across all 17,865 insider purchases in Exent’s study, the average was +17.2% and the median +1.0% against the index.
| Date | Insider | Role | Value |
|---|---|---|---|
| May 22, 2026 | Lobo Kevin | Director | $641,800 |
| May 12, 2026 | Hochman Rodney F | Director | $100,365 |
| May 8, 2026 | Yang Watkin Phoebe L. | Director | $63,006 |
| May 6, 2026 | Culp H Lawrence Jr | Director | $5.0 million |
| May 6, 2026 | Stromberg William J | Director | $61,689 |
The table lists the latest open‑market purchases on record, leaving out the last 30 days. The chart counts Form 4 purchases and sales by calendar quarter. Purchases are open‑market buys; sales include planned sales under 10b5‑1 trading plans. Do insider buys beat the market?
How much of GEHC is sold short?
As of the Sep 30, 2026 settlement date, 4.11% of GEHC’s float was sold short: 18.5 million shares, or 4.7 days of average trading volume to cover. A year earlier (Oct 15, 2025) it was 1.76%. The median across the 997 US stocks Exent tracks was 4.77%, so GEHC is less heavily shorted than most.
From FINRA short‑interest reports, filed twice a month; the bars show the short share of the float at each month‑end. Days to cover divides the shares short by the average daily volume. The most shorted stocks
How many institutions own GEHC?
At the end of Q2 2026 (Jun 30, 2026), 1,271 institutions reported holding GEHC in 13F filings, down 48 from the quarter before and down from 1,369 a year earlier. Their reported holdings add up to 87.7% of GEHC’s shares. In the quarter 542 institutions added to their positions and 475 cut them.
1,27113F holders
141new positions
181positions closed
87.7%of shares held by 13F filers
Investment managers with over $100 million in US equities file 13F reports within 45 days of each quarter end, so this is the latest complete quarter. Holdings can add up to more than 100% when shares are lent and counted twice. Which stocks institutions are buying and selling
Is GEHC diluting shareholders?
GEHC’s diluted share count rose 0.3% in fiscal 2025 alone. Each share now owns a smaller slice of the company.
Stock‑based compensation was $130.0 million in fiscal 2025, 0.6% of revenue. GEHC spent $200.0 million buying back shares, a buyback yield of 0.62% of its market value; stock pay equaled 65.0% of the buybacks.
+0.3%share count, 1 year
0.6%stock pay as % of revenue
0.62%buyback yield
Weighted‑average diluted shares from GEHC’s annual income statements; stock‑based compensation and buybacks from its cash‑flow statement. Stock dilution and stock‑based compensation, explained
GEHC financial health scores
In Exent’s Oct 20, 2026 snapshot, GEHC’s Altman Z‑score was 1.73, in the distress zone (where 180 of the 794 non‑financial US stocks Exent tracks sit). Its Piotroski F‑score was 5 out of 9; 80% of scored stocks reach 5 or more.
1.73Altman Z‑score: distress zone
5/9Piotroski F‑score
The Altman Z‑score combines five balance‑sheet and earnings ratios into one bankruptcy‑risk score: below 1.81 is the distress zone, 1.81–2.99 grey, above 2.99 safe. It is not meaningful for banks, insurers and REITs. The Piotroski F‑score counts nine yes/no tests of profitability, leverage and efficiency; 8–9 is strong, 0–2 weak. Both come from the latest annual statements. Which stocks have the highest bankruptcy risk?
What GEHC talks about on earnings calls
On its latest earnings call (Jul 29, 2026), GEHC’s executives and analysts mentioned AI 15 times, against 6 on the call before (May 12, 2026); the average across 455 S&P 500 calls that quarter was 12.9. After AI, the most mentioned topic was tariffs (8).
| Mentions | Jul ’26 | May ’26 | Apr ’26 | Feb ’26 |
|---|---|---|---|---|
| AI | 15 | 6 | 12 | 6 |
| AI agents | 0 | 0 | 0 | 0 |
| Data centers | 0 | 0 | 0 | 0 |
| Tariffs | 8 | 0 | 15 | 23 |
| China | 5 | 12 | 11 | 21 |
| Recession | 0 | 0 | 0 | 0 |
- AI
- Jul ’26
- 15
- May ’26
- 6
- Apr ’26
- 12
- Feb ’26
- 6
- AI agents
- Jul ’26
- 0
- May ’26
- 0
- Apr ’26
- 0
- Feb ’26
- 0
- Data centers
- Jul ’26
- 0
- May ’26
- 0
- Apr ’26
- 0
- Feb ’26
- 0
- Tariffs
- Jul ’26
- 8
- May ’26
- 0
- Apr ’26
- 15
- Feb ’26
- 23
- China
- Jul ’26
- 5
- May ’26
- 12
- Apr ’26
- 11
- Feb ’26
- 21
- Recession
- Jul ’26
- 0
- May ’26
- 0
- Apr ’26
- 0
- Feb ’26
- 0
Word counts in the full transcript of each call, prepared remarks and Q&A, newest first. “AI” also counts generative AI and large language models; “AI agents” counts agentic AI. Which companies talk most about AI?
Which ETFs hold GEHC?
As of Oct 20, 2026, 49 of the 304 ETFs Exent tracks held GEHC. Its largest weight is in FXH (First Trust Health Care AlphaDEX Fund), at 2.00% of the fund.
| ETF | Fund | Weight of GEHC |
|---|---|---|
| FXH | First Trust Health Care AlphaDEX Fund | 2.00% |
| VOE | Vanguard Mid-Cap Value Index Fund | 0.50% |
| XLV | State Street Health Care Select Sector SPDR ETF | 0.49% |
| VHT | Vanguard Health Care Index Fund ETF Shares | 0.42% |
| IWS | iShares Russell Mid-Cap Value ETF | 0.31% |
| VO | Vanguard Mid-Cap Index Fund ETF Shares | 0.29% |
| IWR | iShares Russell Mid-Cap ETF | 0.24% |
| RSP | Invesco S&P 500 Equal Weight ETF | 0.21% |
Owning several of these funds stacks the same position. How much do VOO, QQQ and VTI overlap?
The right benchmark for GEHC
Exent matches every holding to the index with the most similar risk. For GEHC that is SPY (the S&P 500). Comparing a holding with an index that carries very different risk makes good results look bad and risky ones look clever. Read why the S&P 500 is the wrong benchmark for most portfolios.
Other healthcare stocks
| Ticker | Name | 5‑year return | Volatility (5y) |
|---|---|---|---|
| LLY | Eli Lilly and Company | +482.3% | 32.6% |
| JNJ | Johnson & Johnson | +92.9% | 16.8% |
| ABBV | AbbVie Inc. | +207.1% | 23.5% |
| UNH | UnitedHealth Group Incorporated | −3.3% | 32.7% |
| MRK | Merck & Co., Inc. | +97.8% | 23.6% |
| AMGN | Amgen Inc. | +163.1% | 24.8% |
| TMO | Thermo Fisher Scientific Inc. | +11.7% | 27.0% |
| GILD | Gilead Sciences, Inc. | +214.3% | 24.8% |
Data and methodology
Returns are total returns from month‑end adjusted closing prices (dividends reinvested) through Oct 30, 2026. Crisis drawdowns and trailing maximum drawdowns use daily prices. Analyst coverage counts ratings published in the last 12 months, shown with a 30‑day delay. Full method: Exent methodology.
Company data as of Oct 20, 2026. The move around an earnings report runs from the close before it to the close after it; a price target counts as hit when the stock closed at or beyond it within 12 months (Exent analyst data). Revenue by region and segment, share counts and executive pay come from company filings; insider trades from SEC Form 4, short interest from FINRA, institutional ownership from 13F filings, Congress trades from STOCK Act disclosures filed with the House and Senate, federal contracts from USAspending.gov. Filings from the last 30 days are shown as counts only.
Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.
Check GEHC with Exent Gems
Wall Street’s average GEHC price target is 17.5% above the latest share price. See what the best‑ranked analysts on GEHC say now in Exent Gems.
- Exent ranks Wall Street analysts by their past price‑target hit rate and returns, and keeps the best‑ranked few.
- Gems shows who the top‑ranked analysts covering GEHC are, their live calls and the median target of only the top‑rated analysts.
- Gems flags the stocks where several top‑ranked analysts agree: a starting point for your own research, not a promise.
Frequently asked questions
Yes. As of Oct 20, 2026, GEHC (GE HealthCare Technologies Inc.) is one of the 503 stocks in the S&P 500. It is also in the Nasdaq-100.
Yes. As of Oct 20, 2026, GEHC (GE HealthCare Technologies Inc.) is one of the 101 stocks in the Nasdaq-100.
Over the 3 years to Oct 30, 2026, GEHC’s Sharpe ratio was 0.17 and its Sortino ratio 0.25, versus 1.43 and 3.02 for the S&P 500.
GEHC’s 5‑year annualized volatility was 33.1%, higher than the S&P 500’s 17.0%, with a beta of 0.68.
Among large US stocks, the lowest correlations with GEHC over the last 36 months were GOOGL (−0.26), MRVL (−0.25), INTC (−0.20). Its correlation with long Treasuries (TLT) was 0.49 and with gold (GLD) 0.13.
GEHC beat the consensus earnings-per-share estimate in 10 of its last 12 quarterly reports through Jul 29, 2026, and the revenue estimate in 8 of 12. The stock moved 6.8% on average, up or down, from the close before each report to the close after it.
In fiscal 2025 (the year to Dec 31, 2025), 9.8% of GEHC’s $20.6 billion revenue came from China, about $2.0 billion, down from 10.9% in fiscal 2024. Regions are as GEHC reports them in its annual filings.
Yes. As of Oct 20, 2026, 7 members of Congress had disclosed 24 trades in GEHC (14 buys and 9 sales) in STOCK Act disclosures filed with the House and Senate.
As of the Sep 30, 2026 settlement date, 4.11% of GEHC’s float was sold short (18.5 million shares, 4.7 days to cover), according to FINRA short-interest reports. A year earlier it was 1.76%.
What do the best‑ranked analysts say on GEHC now?
Exent ranks Wall Street analysts by their track record. Gems shows who the top‑ranked analysts on GEHC are, their latest calls and the stocks where several of them agree.
See this week’s GemsLimited offer$1.95 for full access· full access
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.