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

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

GE HealthCare Technologies Stock Down 9.5 %

NASDAQ:GEHC traded down $8.41 during mid-day trading on Tuesday, hitting $80.53. The stock had a trading volume of 1,899,876 shares, compared to its average volume of 3,287,210. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market capitalization of $36.75 billion, a PE ratio of 29.45, a PEG ratio of 3.00 and a beta of 0.95. The stock has a 50-day simple moving average of $88.98 and a two-hundred day simple moving average of $78.75.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current 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 paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GEHC shares. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a research report on Thursday, April 4th. UBS Group raised GE HealthCare Technologies from a sell rating to a neutral rating and increased their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Mizuho lifted their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a buy rating in a research note on Thursday, April 11th. Argus upped their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a buy rating in a research note on Monday, April 1st. Finally, Citigroup boosted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target 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.