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 Tuesday morning. The company provided earnings per share (EPS) guidance of 4.200-4.350 for the period, compared to the consensus estimate of 4.300. The company issued revenue guidance of -. GE HealthCare Technologies also updated its FY24 guidance to $4.20-4.35 EPS.

GE HealthCare Technologies Trading Down 0.2 %

GE HealthCare Technologies stock traded down $0.19 during midday trading on Thursday, reaching $78.07. The stock had a trading volume of 983,636 shares, compared to its average volume of 3,436,707. The firm’s fifty day simple moving average is $88.64 and its two-hundred day simple moving average is $78.81. 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 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The firm has a market cap of $35.63 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.65 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GEHC shares. Mizuho dropped their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a report on Wednesday. Citigroup upped their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Morgan Stanley upped their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an equal weight rating in a research note on Monday, February 12th. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They set a buy rating and a $100.00 price objective on the stock. Finally, Bank of America decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $95.00.

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the purchase, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.