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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 -.

Analysts Set New Price Targets

GEHC has been the topic of several analyst reports. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $95.46.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $77.09 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The firm has a 50-day simple moving average of $85.14 and a 200-day simple moving average of $83.75. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.