GE HealthCare Technologies (NASDAQ:GEHC) Issues FY24 Earnings Guidance

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.25-4.35 for the period, compared to the consensus EPS estimate of $4.25. GE HealthCare Technologies also updated its FY 2024 guidance to 4.250-4.350 EPS.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded down $0.40 during trading hours on Friday, hitting $86.95. 3,383,485 shares of the stock were exchanged, compared to its average volume of 3,012,314. GE HealthCare Technologies has a 12-month low of $66.39 and a 12-month high of $94.55. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 3.26 and a beta of 1.18. The stock has a 50-day moving average of $88.61 and a 200 day moving average of $83.45.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. As a group, equities research analysts forecast that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Analysts Set New Price Targets

GEHC has been the topic of several analyst reports. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.