GE HealthCare Technologies (NASDAQ:GEHC) Reaches New 52-Week High at $94.55

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) hit a new 52-week high on Friday . The stock traded as high as $94.55 and last traded at $94.27, with a volume of 1037798 shares changing hands. The stock had previously closed at $92.49.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GEHC shares. Stifel Nicolaus started coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. UBS Group cut 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 report on Thursday. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.92.

GE HealthCare Technologies Stock Up 0.0 %

The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average price of $84.90 and a 200-day moving average price of $83.32. The stock has a market capitalization of $42.23 billion, a P/E ratio of 27.37, a PEG ratio of 3.40 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS 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. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’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 transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $1,382,000. Cetera Investment Advisers boosted its holdings in shares of GE HealthCare Technologies by 7.7% in the second quarter. Cetera Investment Advisers now owns 73,713 shares of the company’s stock valued at $5,744,000 after purchasing an additional 5,239 shares during the period. Granite Bay Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $534,000. EP Wealth Advisors LLC lifted its holdings in GE HealthCare Technologies by 3.2% during the second quarter. EP Wealth Advisors LLC now owns 6,587 shares of the company’s stock worth $513,000 after buying an additional 207 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in GE HealthCare Technologies during the second quarter worth $272,000. Hedge funds and other 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.