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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.25-4.35 for the period, compared to the consensus estimate of $4.29.

GE HealthCare Technologies Stock Down 3.0 %

GEHC stock opened at $82.32 on Friday. The stock has a market cap of $37.61 billion, a P/E ratio of 22.62, a PEG ratio of 2.96 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a twelve month low of $66.39 and a twelve month high of $94.55. The company’s 50 day moving average is $88.44 and its two-hundred day moving average is $83.57.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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 company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. Research analysts expect that GE HealthCare Technologies will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEHC. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. 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 research note on Wednesday, September 18th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Stifel Nicolaus upped their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company 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.