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

GE HealthCare Technologies (NASDAQ:GEHC) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

GE HealthCare Technologies Stock Down 0.2 %

Shares of GEHC stock traded down $0.19 on Thursday, hitting $78.07. The stock had a trading volume of 983,636 shares, compared to its average volume of 3,436,707. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $88.64 and a 200 day moving average price of $78.81. The company has a market cap of $35.63 billion, a PE ratio of 22.78, a P/E/G ratio of 2.65 and a beta of 1.26. GE HealthCare Technologies has a one year low of $62.35 and a one year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEHC shares. Mizuho dropped their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a research note on Wednesday. Bank of America dropped their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a research note on Wednesday. Citigroup boosted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Morgan Stanley boosted their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Finally, Argus upped their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a buy rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $95.00.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the purchase, 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 SEC, which is available at this link. Corporate 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.