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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY24 earnings guidance on Wednesday 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 $4.25. GE HealthCare Technologies also updated its FY 2024 guidance to 4.250-4.350 EPS.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.40 during mid-day trading on Friday, reaching $86.95. The company’s stock had a trading volume of 3,360,565 shares, compared to its average volume of 3,012,314. GE HealthCare Technologies has a 12-month low of $66.39 and a 12-month high of $94.55. The stock has a market cap of $39.71 billion, a P/E ratio of 23.89, a PEG ratio of 3.26 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average price is $88.61 and its two-hundred day moving average price is $83.45.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results 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 net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.30%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEHC. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Wells Fargo & Company upped 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. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target 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 issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $94.36.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.