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

GE HealthCare Technologies (NASDAQ:GEHC) released its quarterly earnings data on Wednesday. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08, Briefing.com reports. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. 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 Price Performance

Shares of GEHC stock opened at $86.95 on Friday. GE HealthCare Technologies has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The firm’s 50 day moving average is $88.61 and its 200-day moving average is $83.45. The firm has a market capitalization of $39.71 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.26 and a beta of 1.18.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s payout ratio is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on GEHC shares. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

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.