GE HealthCare Technologies (NASDAQ:GEHC) Updates 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GEHC shares. Morgan Stanley raised their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. Argus upped their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a buy rating in a research note on Monday, April 1st. Bank of America decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating for the company in a research report on Wednesday. UBS Group upgraded shares of GE HealthCare Technologies from a sell rating to a neutral rating and boosted their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Finally, Citigroup increased their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $95.00.

GE HealthCare Technologies Stock Up 2.1 %

Shares of GEHC stock traded up $1.64 on Friday, reaching $79.47. 2,722,701 shares of the company were exchanged, compared to its average volume of 3,452,529. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The company has a 50-day moving average of $88.44 and a 200-day moving average of $78.81. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.72 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 quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez purchased 1,315 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the purchase, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The transaction was disclosed in a filing with the SEC, which is available at 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.