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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : GM to Make 30,000 Ventilators for National Stockpile in $489 Million Contract

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04/08/2020 | 08:16am EDT

By Dave Sebastian

General Motors Co. is making 30,000 ventilators for the national stockpile in a $489.4 million contract with the Department of Health and Human Services, as surging Covid-19 cases have tested medical capacities across the U.S.

Under the contract, struck under the Defense Production Act, GM is expected to deliver 6,132 ventilators by June 1 and the remainder by the end of August, the department said Wednesday.

GM said it is working with Ventec Life Systems to make the ventilators.

President Trump last week moved to use the Defense Production Act, a Korean War-era national-security mobilization law, to help major manufacturers secure supplies companies need to make ventilators and respirators. 3M Co., the primary U.S. producer of N95 masks, has stepped up production, with Ford Motor Co. helping with the effort.

Initially reluctant to use the DPA, Mr. Trump has pressed private companies, including GM, to begin making the medical equipment and supplies.

"By rating contracts under the DPA, HHS is helping manufacturers like GM get the supplies they need to produce ventilators as quickly as possible, while also ensuring that these ventilators are routed through the Strategic National Stockpile to where they're needed most," Health and Human Services Secretary Alex Azar said.

Ventilators are in crucial short supply as the coronavirus pandemic spreads across the U.S., and cases are swelling in major metro areas, such as New York. The federal government's national stockpile has sent out nearly half of its ventilators and has fewer than 10,000 still in hand.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

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Financials (USD)
Sales 2020 125 B
EBIT 2020 6 731 M
Net income 2020 3 394 M
Finance 2020 4 880 M
Yield 2020 5,92%
P/E ratio 2020 5,73x
P/E ratio 2021 4,22x
EV / Sales2020 0,20x
EV / Sales2021 0,15x
Capitalization 30 438 M
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Technical analysis trends GENERAL MOTORS COMPANY
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 35,39  $
Last Close Price 21,30  $
Spread / Highest target 177%
Spread / Average Target 66,1%
Spread / Lowest Target -34,3%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
Dhivya Suryadevara Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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