GE HealthCare Technologies (NASDAQ:GEHC) Releases Earnings Results, Beats Estimates By $0.02 EPS

GE HealthCare Technologies (NASDAQ:GEHC) released its quarterly earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02, Briefing.com reports. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the company posted $0.92 EPS. GE HealthCare Technologies’s revenue for the quarter was up .5% on a year-over-year basis. GE HealthCare Technologies updated its FY 2024 guidance to 4.200-4.350 EPS and its FY24 guidance to $4.20-4.35 EPS.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded up $0.04 during mid-day trading on Friday, hitting $83.44. 2,986,428 shares of the company’s stock traded hands, compared to its average volume of 2,926,614. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83. The company has a market capitalization of $38.10 billion, a P/E ratio of 24.40, a PEG ratio of 3.00 and a beta of 1.17. The company’s 50-day moving average is $78.91 and its two-hundred day moving average is $82.38. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Analysts Set New Price Targets

Several brokerages have commented on GEHC. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Mizuho dropped their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Bank of America dropped their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.09.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at $5,167,296.36. The disclosure for this sale can be found here. Insiders have sold 90,482 shares of company stock worth $7,369,137 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.