GE HealthCare Technologies (NASDAQ:GEHC) Trading Up 3.7% - Should You Buy?

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report)'s stock price was up 3.7% on Wednesday . The company traded as high as $86.60 and last traded at $86.46. Approximately 551,008 shares traded hands during trading, a decline of 79% from the average daily volume of 2,621,133 shares. The stock had previously closed at $83.37.

Analysts Set New Price Targets

Several analysts have recently commented on GEHC shares. Jefferies Financial Group raised GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $95.00 to $103.00 in a report on Wednesday. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Evercore ISI lifted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price of $96.00.

GE HealthCare Technologies Price Performance

The stock has a market cap of $39.41 billion, a PE ratio of 23.70, a P/E/G ratio of 2.90 and a beta of 1.11. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The business has a 50 day moving average price of $82.33 and a two-hundred day moving average price of $84.02.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (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 return on equity of 25.19% and a net margin of 8.56%. The firm's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared 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 represents a $0.14 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's payout ratio is currently 3.85%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies 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 value of $309,338.96. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently modified their holdings of GEHC. First Hawaiian Bank boosted its holdings 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 acquiring an additional 1,314 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of GE HealthCare Technologies by 4.4% during the fourth 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 increased its holdings in shares of GE HealthCare Technologies by 6.0% in the 4th quarter. Park National Corp OH now owns 3,796 shares of the company's stock worth $297,000 after purchasing an additional 216 shares in the last quarter. Nordea Investment Management AB raised its position 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 worth $3,429,000 after buying an additional 10,116 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in GE HealthCare Technologies by 118.2% in the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company's stock worth $1,475,000 after purchasing an additional 10,220 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.