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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $96.00.

Several equities research analysts have weighed in on the stock. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Jefferies Financial Group raised 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 research note on Wednesday. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, BTIG Research raised shares of 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 3.5 %

Shares of NASDAQ:GEHC opened at $86.26 on Friday. GE HealthCare Technologies has a 1 year low of $71.31 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business’s 50-day moving average is $82.29 and its 200-day moving average is $84.05. The company has a market capitalization of $39.41 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 2.90 and a beta of 1.11.

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

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. First Hawaiian Bank lifted its stake in GE HealthCare Technologies by 4.6% in the fourth quarter. First Hawaiian Bank now owns 30,011 shares of the company’s stock valued at $2,346,000 after purchasing an additional 1,314 shares during the last quarter. Douglas Lane & Associates LLC lifted its position in shares of GE HealthCare Technologies by 4.4% during the 4th quarter. Douglas Lane & Associates LLC now owns 480,419 shares of the company’s stock valued at $37,559,000 after buying an additional 20,415 shares during the last quarter. Park National Corp OH grew its stake in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Park National Corp OH now owns 3,796 shares of the company’s stock worth $297,000 after acquiring an additional 216 shares during the period. Nordea Investment Management AB raised its stake in GE HealthCare Technologies by 30.2% in the 4th quarter. Nordea Investment Management AB now owns 43,632 shares of the company’s stock valued at $3,429,000 after acquiring an additional 10,116 shares during the period. Finally, Everence Capital Management Inc. lifted its holdings in GE HealthCare Technologies by 118.2% during the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after purchasing an additional 10,220 shares during the last quarter. 82.06% of the stock is 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.