GE HealthCare Technologies (NASDAQ:GEHC) Announces Quarterly Earnings Results

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11, MarketWatch Earnings reports. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a return on equity of 24.46% and a net margin of 8.91%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 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 Trading Up 11.6 %

Shares of NASDAQ GEHC opened at $81.96 on Wednesday. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $87.83. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 1.44. The stock has a fifty day simple moving average of $74.25 and a 200-day simple moving average of $71.18. The stock has a market capitalization of $37.31 billion and a PE ratio of 24.39.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a $0.03 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is presently 3.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $86.00 to $66.00 in a research note on Monday, November 27th. Morgan Stanley cut their target price on GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating for the company in a research note on Monday, December 4th. Finally, Jefferies Financial Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, November 30th. They set a “hold” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.55.

View Our Latest Stock Report on GEHC

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $25,000. Resources Management Corp CT ADV acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $28,000. PCA Investment Advisory Services Inc. acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $40,000. Laurel Wealth Advisors LLC acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $45,000. Finally, First Capital Advisors Group LLC. acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $49,000. 79.18% of the stock is owned by institutional investors and hedge funds.

About GE HealthCare Technologies

(Get Free Report)

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, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.

See Also

Earnings History for GE HealthCare Technologies (NASDAQ:GEHC)

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