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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GEHC shares. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. initiated 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 on the stock. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Performance

GEHC traded down $0.40 during trading hours on Friday, reaching $86.95. The company’s stock had a trading volume of 3,360,565 shares, compared to its average volume of 3,012,314. The company’s 50-day moving average is $88.57 and its 200-day moving average is $83.44. GE HealthCare Technologies has a 52 week low of $66.39 and a 52 week high of $94.55. The firm has a market cap of $39.71 billion, a PE ratio of 24.00, a price-to-earnings-growth 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.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (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 company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the company posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Insider Buying and Selling

In other 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 value 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 approximately $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

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.