GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Consensus Rating of “Moderate Buy” from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $94.09.

Several equities analysts have recently issued reports on GEHC shares. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Mizuho decreased their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th.

GE HealthCare Technologies Stock Up 1.0 %

Shares of NASDAQ:GEHC opened at $79.94 on Friday. The stock’s 50-day moving average price is $78.76 and its 200-day moving average price is $81.86. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.50. The stock has a market capitalization of $36.49 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 2.75 and a beta of 1.20. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities analysts anticipate that GE HealthCare Technologies will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity

In other news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock valued at $7,369,137 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies in the 1st quarter worth about $25,000. BNP Paribas bought a new position in GE HealthCare Technologies in the 1st quarter worth about $30,000. Rise Advisors LLC grew its stake in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares in the last quarter. Riverview Trust Co bought a new position in GE HealthCare Technologies in the 1st quarter worth about $31,000. Finally, Annapolis Financial Services LLC grew its stake in GE HealthCare Technologies by 171.9% in the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after acquiring an additional 220 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.