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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.20-4.35 for the period, compared to the consensus estimate of $4.30. GE HealthCare Technologies also updated its FY 2024 guidance to 4.200-4.350 EPS.

GE HealthCare Technologies Trading Down 0.4 %

GE HealthCare Technologies stock traded down $0.33 during midday trading on Thursday, reaching $77.93. The stock had a trading volume of 1,420,107 shares, compared to its average volume of 3,442,041. The stock’s 50-day simple moving average is $88.64 and its 200 day simple moving average is $78.81. The stock has a market capitalization of $35.56 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. 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 quick ratio of 0.83 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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 return on equity of 25.32% and a net margin of 8.05%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. Argus boosted their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a buy rating in a report on Monday, April 1st. UBS Group upgraded GE HealthCare Technologies from a sell rating to a neutral rating and boosted their price objective for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. HSBC initiated coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They set a buy rating and a $100.00 price objective for the company. Morgan Stanley boosted their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. Finally, Bank of America dropped their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $95.00.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.