GE HealthCare Technologies (NASDAQ:GEHC) Posts Quarterly Earnings Results, Beats Expectations 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, beating the consensus estimate 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 return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 NASDAQ GEHC traded up $0.15 during mid-day trading on Thursday, reaching $87.35. The company had a trading volume of 3,186,835 shares, compared to its average volume of 3,010,212. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies has a one year low of $65.77 and a one year high of $94.55. The firm has a market cap of $39.89 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 3.34 and a beta of 1.18. The business’s 50-day simple moving average is $88.51 and its 200 day simple moving average is $83.42.

GE HealthCare Technologies Announces Dividend

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

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated 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 owns 17,509 shares in the company, valued at $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on GEHC. Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Wells Fargo & Company increased their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.