GE HealthCare Technologies (NASDAQ:GEHC) Issues Earnings Results

GE HealthCare Technologies (NASDAQ:GEHC) issued its earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08, Briefing.com reports. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. GE HealthCare Technologies updated its FY 2024 guidance to 4.250-4.350 EPS and its FY24 guidance to $4.25-4.35 EPS.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $0.15 during trading on Thursday, reaching $87.35. 3,186,835 shares of the stock traded hands, compared to its average volume of 3,010,212. GE HealthCare Technologies has a 52-week low of $65.77 and a 52-week high of $94.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a 50-day moving average of $88.51 and a 200-day moving average of $83.42. The stock has a market capitalization of $39.89 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEHC. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. One investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.36.

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.