GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Up - Time to Buy?

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $85.27, but opened at $89.73. GE HealthCare Technologies shares last traded at $87.92, with a volume of 344,494 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on the company. Redburn Atlantic raised GE HealthCare Technologies to a "strong-buy" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a "neutral" rating and a $90.00 target price for the company. Stifel Nicolaus raised 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 report on Monday, September 30th. UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Evercore ISI upped their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.23.

GE HealthCare Technologies Trading Up 0.9 %

The firm has a market capitalization of $39.29 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a fifty day moving average of $88.46 and a 200-day moving average of $83.39.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies's dividend payout ratio is 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company's stock, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Large investors have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $25,000. BNP Paribas acquired a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $30,000. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $26,000. M&R Capital Management Inc. acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter worth about $33,000. Finally, Elkhorn Partners Limited Partnership bought a new stake in GE HealthCare Technologies during the 2nd quarter valued at approximately $31,000. Institutional investors 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.

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