GE HealthCare Technologies Inc. (NASDAQ:GEHC) Given Average Rating of “Moderate Buy” by Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $94.23.

Several equities analysts have recently issued reports on GEHC shares. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. BTIG Research upgraded shares of 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. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $88.42 on Friday. The stock’s 50 day simple moving average is $88.42 and its two-hundred day simple moving average is $83.43. GE HealthCare Technologies has a fifty-two week low of $62.35 and a fifty-two week high of $94.55. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.34 and a beta of 1.18. 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 (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the business earned $0.92 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts expect that GE HealthCare Technologies will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.49%.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on 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 directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of institutional investors have recently bought and sold shares of GEHC. Wellington Management Group LLP increased its stake in GE HealthCare Technologies by 575.6% in the 4th quarter. Wellington Management Group LLP now owns 21,118 shares of the company’s stock worth $1,633,000 after buying an additional 17,992 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of GE HealthCare Technologies by 12.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,775 shares of the company’s stock valued at $369,000 after purchasing an additional 535 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at about $610,000. Mather Group LLC. purchased a new position in shares of GE HealthCare Technologies during the first quarter valued at about $106,000. Finally, Banque Cantonale Vaudoise grew its position in shares of GE HealthCare Technologies by 49.1% during the first quarter. Banque Cantonale Vaudoise now owns 14,627 shares of the company’s stock valued at $1,331,000 after purchasing an additional 4,817 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

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.