GE HealthCare Technologies (NASDAQ:GEHC) Announces Quarterly Earnings Results

GE HealthCare Technologies (NASDAQ:GEHC) issued its earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02, Briefing.com reports. GE HealthCare Technologies had a return on equity of 25.76% and a net margin of 8.10%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. GE HealthCare Technologies updated its FY 2024 guidance to 4.200-4.350 EPS and its FY24 guidance to $4.20-4.35 EPS.

GE HealthCare Technologies Stock Down 0.9 %

GEHC stock traded down $0.76 during midday trading on Friday, reaching $82.64. The company had a trading volume of 113,647 shares, compared to its average volume of 3,118,759. The company has a market capitalization of $37.72 billion, a P/E ratio of 24.16, a PEG ratio of 3.04 and a beta of 1.17. The company has a 50 day moving average of $78.84 and a two-hundred day moving average of $82.33. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be 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 is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America decreased their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Buying and Selling

In other news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The disclosure for this sale can be found here. Insiders have sold 90,482 shares of company stock worth $7,369,137 in the last quarter. 0.27% of the stock is currently owned by company 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.