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

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

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $8.02 during trading hours on Tuesday, reaching $80.92. 1,563,234 shares of the company traded hands, compared to its average volume of 3,287,210. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The stock’s fifty day moving average is $88.98 and its 200 day moving average is $78.75. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50. The stock has a market cap of $36.93 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. GE HealthCare Technologies’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. Equities research analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given 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 (DPR) is presently 3.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GEHC shares. HSBC assumed coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They issued a buy rating and a $100.00 target price for the company. Argus lifted 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. Mizuho upped their target price on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a buy rating in a report on Thursday, April 11th. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, Morgan Stanley raised their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $95.09.

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.