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

GE HealthCare Technologies (NASDAQ:GEHC) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.200-4.350 for the period, compared to the consensus EPS estimate of 4.300. The company issued revenue guidance of -. GE HealthCare Technologies also updated its FY24 guidance to $4.20-4.35 EPS.

Analyst Ratings Changes

GEHC has been the subject of a number of recent research reports. HSBC assumed coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a buy rating and a $100.00 target price for the company. Argus raised their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a buy rating in a report on Monday, April 1st. Bank of America decreased their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a research report on Wednesday. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, UBS Group upgraded GE HealthCare Technologies from a sell rating to a neutral rating and upped their price objective for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $1.64 on Friday, hitting $79.47. The company’s stock had a trading volume of 2,722,701 shares, compared to its average volume of 3,452,529. The company has a 50 day moving average price of $88.44 and a 200 day moving average price of $78.81. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The company has a market capitalization of $36.27 billion, a PE ratio of 22.76, a PEG ratio of 2.72 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. On average, research analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 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 3.51%.

Insider Activity at GE HealthCare Technologies

In other news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

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.