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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $95.46.

GEHC has been the topic of several recent research reports. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI lifted 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. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. 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 target price for the company. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th.

GE HealthCare Technologies Stock Up 0.3 %

Shares of NASDAQ GEHC opened at $78.38 on Friday. GE HealthCare Technologies has a 12-month low of $71.31 and a 12-month high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market cap of $35.81 billion, a PE ratio of 21.53, a P/E/G ratio of 2.96 and a beta of 1.07. The company’s fifty day simple moving average is $82.61 and its 200 day simple moving average is $83.88.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Hedge funds have recently made changes to their positions in the business. LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies in the second quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Finally, Elkhorn Partners Limited Partnership bought a new stake in GE HealthCare Technologies in the 2nd quarter worth $31,000. 82.06% of the stock is currently owned by institutional investors.

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.