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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.20-4.35 for the period, compared to the consensus earnings per share estimate of $4.27. GE HealthCare Technologies also updated its FY 2024 guidance to 4.200-4.350 EPS.

GE HealthCare Technologies Price Performance

GEHC stock traded up $0.04 during trading on Friday, reaching $83.44. 2,986,428 shares of the company were exchanged, compared to its average volume of 2,926,614. The company has a 50-day moving average of $78.91 and a two-hundred day moving average of $82.43. The company has a market capitalization of $38.10 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 3.00 and a beta of 1.17. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue was up .5% on a year-over-year basis. As a group, equities analysts predict that GE HealthCare Technologies will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research analyst reports. Bank of America cut their target price 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. Mizuho cut their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a neutral rating and a $87.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $94.09.

Insider Activity at GE HealthCare Technologies

In related news, CEO Jan Makela sold 20,227 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Taha Kass-Hout sold 3,300 shares of the 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 sale, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jan Makela sold 20,227 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The disclosure for this sale can be found here. Insiders have sold a total of 90,482 shares of company stock valued at $7,369,137 over the last 90 days. 0.27% of the stock is owned by 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.