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

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

GE HealthCare Technologies Stock Down 13.4 %

Shares of NASDAQ:GEHC traded down $11.92 on Tuesday, reaching $77.02. The company had a trading volume of 10,363,868 shares, compared to its average volume of 3,389,743. The firm has a market capitalization of $35.15 billion, a PE ratio of 26.79, a PEG ratio of 3.00 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies has a 52-week low of $62.35 and a 52-week high of $94.50. The firm’s 50 day simple moving average is $88.98 and its 200-day simple moving average is $78.75.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. As a group, analysts expect that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business 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. This represents a $0.12 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is currently 3.97%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEHC. Morgan Stanley increased their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an equal weight rating in a research report on Monday, February 12th. Evercore ISI lifted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a report on Thursday, April 4th. Citigroup raised their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. UBS Group upgraded GE HealthCare Technologies from a sell rating to a neutral rating and lifted their price objective for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Finally, HSBC assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a buy rating and a $100.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of Moderate Buy and a consensus price target of $95.09.

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.