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

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an equal weight rating in a report on Monday, February 12th. Bank of America decreased their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a research note on Wednesday. Mizuho decreased their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a research note on Wednesday. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a buy rating and a $100.00 price target on the stock. Finally, Argus raised 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $95.00.

GE HealthCare Technologies Trading Up 2.1 %

GEHC stock traded up $1.64 during trading on Friday, reaching $79.47. 2,722,701 shares of the stock were exchanged, compared to its average volume of 3,452,529. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $88.44 and a 200-day moving average price of $78.81. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50. The firm has a market capitalization of $36.27 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 2.72 and a beta of 1.26.

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

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost 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 $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.