GE HealthCare Technologies (NASDAQ:GEHC) Issues FY 2024 Earnings Guidance

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

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $86.95 on Friday. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.26 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The company’s fifty day simple moving average is $88.61 and its 200 day simple moving average is $83.45. GE HealthCare Technologies has a 1-year low of $66.39 and a 1-year high of $94.55.

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

GE HealthCare Technologies Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.36.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

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.