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

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

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of recent analyst reports. Citigroup upped their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Argus lifted 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. Mizuho lifted their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a buy rating in a research note on Thursday, April 11th. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, HSBC initiated coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They set a buy rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $95.09.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $11.92 during mid-day trading on Tuesday, hitting $77.02. 10,363,868 shares of the company’s stock were exchanged, compared to its average volume of 3,389,743. The stock’s 50-day simple moving average is $88.98 and its 200-day simple moving average is $78.75. The firm has a market cap of $35.15 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. 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 has a 52 week low of $62.35 and a 52 week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data 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 analysts’ expectations of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. GE HealthCare Technologies’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, equities research analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is 3.97%.

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.