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

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have earned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $95.00.

Several research firms have weighed in on GEHC. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price on the stock. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Stifel Nicolaus began coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price on the stock. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new position in shares of GE HealthCare Technologies during the first quarter worth approximately $25,000. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies during the second quarter worth approximately $26,000. BNP Paribas acquired a new position in shares of GE HealthCare Technologies during the first quarter worth approximately $30,000. Rise Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of GE HealthCare Technologies during the first quarter worth approximately $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 1.5 %

Shares of GEHC opened at $92.21 on Wednesday. The business’s 50-day moving average price is $84.46 and its 200 day moving average price is $83.19. The stock has a market capitalization of $42.09 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.