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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Trading Up 0.5 %

GEHC opened at $82.44 on Friday. The stock has a market capitalization of $37.66 billion, a PE ratio of 22.65, a PEG ratio of 2.94 and a beta of 1.24. 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 has a 1-year low of $66.39 and a 1-year high of $94.55. The firm has a 50-day moving average price of $88.35 and a two-hundred day moving average price of $83.60.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities analysts anticipate that GE HealthCare Technologies will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.