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 earnings per share guidance of 4.200-4.350 for the period, compared to the consensus earnings per share 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 Performance

Shares of NASDAQ:GEHC traded up $1.80 during trading on Wednesday, hitting $78.04. 2,490,890 shares of the stock traded hands, compared to its average volume of 3,431,253. GE HealthCare Technologies has a 52-week low of $62.35 and a 52-week high of $94.50. The company has a market cap of $35.61 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.09 and a beta of 0.94. The company has a fifty day moving average price of $88.98 and a two-hundred day moving average price of $78.75. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, equities analysts predict that GE HealthCare Technologies will post 4.3 EPS 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. Stockholders of record on Friday, April 19th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is 3.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HSBC assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a buy rating and a $100.00 target price on the stock. Mizuho decreased their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a research report on Wednesday. Citigroup lifted 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. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a buy rating in a research note on Monday, April 1st. Finally, UBS Group raised GE HealthCare Technologies from a sell rating to a neutral rating and lifted their price target for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of Moderate Buy and an average target price of $94.64.

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.