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 EPS guidance of 4.250-4.350 for the period, compared to the consensus EPS estimate of 4.250. The company issued revenue guidance of -. GE HealthCare Technologies also updated its FY24 guidance to $4.25-4.35 EPS.

GE HealthCare Technologies Stock Down 0.8 %

Shares of GEHC opened at $85.27 on Wednesday. The stock has a 50 day moving average price of $88.46 and a 200 day moving average price of $83.39. GE HealthCare Technologies has a one year low of $62.35 and a one year high of $94.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The stock has a market capitalization of $38.92 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.34 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities research analysts forecast that GE HealthCare Technologies will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GEHC shares. Stifel Nicolaus upped 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. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. started 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. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.23.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on 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 in the company, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

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.