GE HealthCare Technologies (NASDAQ:GEHC) Trading Up 0.5% - Should You Buy?

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) shares shot up 0.5% during trading on Monday . The stock traded as high as $81.78 and last traded at $81.48. 391,840 shares traded hands during trading, a decline of 87% from the average session volume of 3,041,197 shares. The stock had previously closed at $81.10.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, September 30th. 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. UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a "neutral" rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company boosted 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 report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus target price of $95.46.

GE HealthCare Technologies Stock Down 1.0 %

The stock's fifty day moving average is $85.64 and its two-hundred day moving average is $83.79. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $36.68 billion, a PE ratio of 22.06, a P/E/G ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company's quarterly revenue was up .9% on a year-over-year basis. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company 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. 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 0.17%. GE HealthCare Technologies's payout ratio is presently 3.85%.

Insider Transactions at GE HealthCare Technologies

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

Hedge Funds Weigh In On GE HealthCare Technologies

A number of large investors have recently made changes to their positions in GEHC. Quent Capital LLC lifted its holdings in GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company's stock worth $72,000 after purchasing an additional 119 shares in the last quarter. Greenleaf Trust boosted its position in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company's stock valued at $715,000 after acquiring an additional 124 shares during the period. Westside Investment Management Inc. boosted its position in shares of GE HealthCare Technologies by 32.0% in the third quarter. Westside Investment Management Inc. now owns 516 shares of the company's stock valued at $48,000 after acquiring an additional 125 shares during the period. EverSource Wealth Advisors LLC grew its stake in GE HealthCare Technologies by 8.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company's stock valued at $135,000 after acquiring an additional 127 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company's stock worth $46,000 after purchasing an additional 131 shares during the period. 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.