GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Average Recommendation of "Moderate Buy" from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) has received an average rating of "Moderate Buy" from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $95.46.

GEHC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a "neutral" rating and a $90.00 price target for the company. BTIG Research upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Stifel Nicolaus lifted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded up $2.14 during trading on Friday, reaching $80.52. The company had a trading volume of 2,712,608 shares, compared to its average volume of 2,685,704. The firm's 50 day simple moving average is $82.45 and its two-hundred day simple moving average is $83.90. GE HealthCare Technologies has a one year low of $71.31 and a one 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 company has a market capitalization of $36.79 billion, a PE ratio of 22.12, a PEG ratio of 2.96 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. Sell-side analysts forecast 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 given a dividend of $0.035 per share. 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 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies's payout ratio is 3.85%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company's stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company's stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC grew its stake in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company's stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth approximately $268,159,000. Charles Schwab Investment Management Inc. increased its holdings in shares of GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company's stock worth $254,422,000 after buying an additional 290,019 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $208,513,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.