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

GE HealthCare Technologies (NASDAQ:GEHC) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.250-4.350 for the period, compared to the consensus EPS estimate of 4.250. The company issued revenue guidance of -. GE HealthCare Technologies also updated its FY24 guidance to $4.25-4.35 EPS.

GE HealthCare Technologies Stock Performance

GEHC traded down $0.40 during trading on Friday, hitting $86.95. The stock had a trading volume of 3,360,565 shares, compared to its average volume of 3,012,314. GE HealthCare Technologies has a twelve month low of $66.39 and a twelve month high of $94.55. The firm has a market capitalization of $39.71 billion, a P/E ratio of 24.00, a PEG ratio of 3.26 and a beta of 1.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.82 and a current ratio of 1.23. The company’s 50-day moving average price is $88.57 and its 200 day moving average price is $83.44.

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 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 during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.30%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEHC. Evercore ISI boosted 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 note on Tuesday, October 1st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.36.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.