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 (EPS) guidance of $4.20-4.35 for the period, compared to the consensus estimate of $4.27. GE HealthCare Technologies also updated its FY 2024 guidance to 4.200-4.350 EPS.

GE HealthCare Technologies Stock Down 2.6 %

Shares of NASDAQ:GEHC opened at $80.50 on Wednesday. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market capitalization of $36.75 billion, a PE ratio of 24.17, a P/E/G ratio of 2.95 and a beta of 1.20. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $78.67 and a 200-day simple moving average of $82.31.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm 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. GE HealthCare Technologies’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts predict that GE HealthCare Technologies will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors 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 dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho reduced their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Bank of America decreased their price target 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. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a neutral rating and a $87.00 target price on the stock. Finally, Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $94.09.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,165,395.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. Insiders have sold 90,482 shares of company stock worth $7,369,137 over the last quarter. 0.27% of the stock is currently 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.