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

GE HealthCare Technologies (NASDAQ:GEHC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.200-4.350 for the period, compared to the consensus estimate of 4.270. The company issued revenue guidance of -. GE HealthCare Technologies also updated its FY24 guidance to $4.20-4.35 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GEHC. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Bank of America lowered their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a neutral rating and a $87.00 target price for the company. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of Moderate Buy and an average price target of $94.09.

GE HealthCare Technologies Stock Up 0.0 %

GEHC stock opened at $83.44 on Friday. The company has a fifty day moving average price of $78.91 and a 200 day moving average price of $82.38. GE HealthCare Technologies has a 12 month low of $62.35 and a 12 month high of $94.50. The company has a market cap of $38.10 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. GE HealthCare Technologies’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts expect that GE HealthCare Technologies will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is owned by 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.