GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Average Rating of “Moderate Buy” from Brokerages

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $88.5455.

A number of research analysts have commented on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $73.00 in a research note on Monday, May 5th. BTIG Research reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Wells Fargo & Company reduced their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reduced their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $73.40 on Friday. The company’s fifty day simple moving average is $73.90 and its 200-day simple moving average is $75.71. GE HealthCare Technologies has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market cap of $33.51 billion, a PE ratio of 15.04, a P/E/G ratio of 2.81 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that GE HealthCare Technologies will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has authorized a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 2.87%.

Institutional Trading of GE HealthCare Technologies

Large investors have recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter worth about $25,000. Bogart Wealth LLC grew its position in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after buying an additional 247 shares in the last quarter. Allianz SE grew its position in GE HealthCare Technologies by 165.2% in the 2nd quarter. Allianz SE now owns 350 shares of the company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Stonebridge Financial Group LLC grew its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Finally, LGT Financial Advisors LLC grew its position in GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds 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.