GE HealthCare Technologies (NASDAQ:GEHC) Posts Earnings Results, Beats Expectations By $0.08 EPS

GE HealthCare Technologies (NASDAQ:GEHC) announced its quarterly earnings data on Wednesday. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08, Briefing.com reports. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. GE HealthCare Technologies updated its FY 2024 guidance to 4.250-4.350 EPS and its FY24 guidance to $4.25-4.35 EPS.

GE HealthCare Technologies Stock Up 0.2 %

Shares of GEHC stock traded up $0.15 on Thursday, hitting $87.35. The company’s stock had a trading volume of 3,186,835 shares, compared to its average volume of 3,010,212. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 3.34 and a beta of 1.18. GE HealthCare Technologies has a fifty-two week low of $65.77 and a fifty-two week high of $94.55. The firm’s fifty day moving average price is $88.51 and its 200-day moving average price is $83.42. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Insiders Place Their Bets

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEHC. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

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.