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

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

GE HealthCare Technologies Stock Down 2.7 %

Shares of NASDAQ GEHC opened at $77.09 on Thursday. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies has a 52 week low of $71.31 and a 52 week high of $94.55. The firm has a 50-day moving average price of $85.14 and a 200 day moving average price of $83.75. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. GE HealthCare Technologies’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of recent research reports. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.46.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.