GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Average Recommendation of “Moderate Buy” from Brokerages

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $96.00.

GEHC has been the subject of several research reports. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company upped their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $88.99 on Tuesday. The company has a fifty day simple moving average of $82.45 and a 200-day simple moving average of $84.84. 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 capitalization of $40.66 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.88 and a beta of 1.11. GE HealthCare Technologies has a 52-week low of $72.50 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the business earned $0.99 earnings per share. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Several large investors have recently bought and sold shares of GEHC. LGT Financial Advisors LLC increased its stake in shares of GE HealthCare Technologies by 1,673.3% during the third 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. Capital Performance Advisors LLP acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at $31,000. Finally, Continuum Advisory LLC boosted its stake in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.