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

GE HealthCare Technologies (NASDAQ:GEHC) announced its quarterly earnings data on Wednesday. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02, Briefing.com reports. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.76%. GE HealthCare Technologies’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. 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 Stock Down 0.9 %

Shares of NASDAQ:GEHC traded down $0.76 during midday trading on Friday, hitting $82.64. The stock had a trading volume of 113,647 shares, compared to its average volume of 3,118,759. GE HealthCare Technologies has a 12 month low of $62.35 and a 12 month high of $94.50. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The business’s 50-day simple moving average is $78.84 and its 200-day simple moving average is $82.33. The company has a market cap of $37.72 billion, a P/E ratio of 24.16, a PEG ratio of 3.04 and a beta of 1.17.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, July 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Evercore ISI raised their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Mizuho cut 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 cut 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is owned by corporate insiders.

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.