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

GE HealthCare Technologies (NASDAQ:GEHC) updated its FY24 earnings guidance on Wednesday. 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 Down 0.5 %

GE HealthCare Technologies stock traded down $0.40 during trading on Friday, reaching $86.95. The stock had a trading volume of 3,383,485 shares, compared to its average volume of 3,012,314. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 52-week low of $66.39 and a 52-week high of $94.55. The stock has a market cap of $39.71 billion, a PE ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18. The business has a 50 day moving average price of $88.61 and a 200 day moving average price of $83.45.

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

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.03 dividend. 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 payout ratio is currently 3.30%.

Analysts Set New Price Targets

GEHC has been the subject of a number of research analyst reports. Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. 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. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. 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 given a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

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.