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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.25-4.35 for the period, compared to the consensus earnings per share estimate of $4.29.

GE HealthCare Technologies Trading Up 0.5 %

Shares of NASDAQ:GEHC opened at $82.44 on Friday. The company has a 50 day moving average of $88.35 and a 200-day moving average of $83.60. The firm has a market cap of $37.66 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.94 and a beta of 1.24. GE HealthCare Technologies has a twelve month low of $66.39 and a twelve month high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 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 business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts anticipate that GE HealthCare Technologies will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is currently 3.30%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research reports. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

Insiders Place Their Bets

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