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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.250-4.350 for the period, compared to the consensus EPS estimate of 4.280. The company issued revenue guidance of -.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $77.09 on Thursday. The stock’s 50-day simple moving average is $85.14 and its two-hundred day simple moving average is $83.75. GE HealthCare Technologies has a twelve month low of $71.31 and a twelve month high of $94.55. The firm has a market capitalization of $35.22 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm posted $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on GEHC. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $95.46.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.