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

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.25-4.35 for the period, compared to the consensus estimate of $4.29.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Evercore ISI lifted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. BTIG Research upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus lifted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, UBS Group lowered GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $94.36.

GE HealthCare Technologies Stock Down 3.0 %

NASDAQ:GEHC traded down $2.58 on Thursday, hitting $82.32. 3,921,756 shares of the company's stock traded hands, compared to its average volume of 3,067,014. The firm has a 50-day moving average price of $88.54 and a 200-day moving average price of $83.58. GE HealthCare Technologies has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a market cap of $37.61 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating 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 business had revenue of $4.86 billion for the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the company posted $0.99 EPS. GE HealthCare Technologies's revenue was up .9% on a year-over-year basis. Equities analysts anticipate that GE HealthCare Technologies will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies's payout ratio is 3.30%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

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.