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

GE HealthCare Technologies (NASDAQ:GEHC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.250-4.350 for the period, compared to the consensus estimate of 4.280. The company issued revenue guidance of -.

GE HealthCare Technologies Price Performance

GEHC stock opened at $77.43 on Friday. The stock has a market cap of $35.38 billion, a PE ratio of 21.27, a P/E/G ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies has a 12 month low of $71.31 and a 12 month high of $94.55. The company has a 50-day moving average price of $84.88 and a 200 day moving average price of $83.71. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI upped their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Stifel Nicolaus boosted their price objective 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, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.46.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.