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

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $94.36.

Several brokerages have recently issued reports on GEHC. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Soltis Investment Advisors LLC purchased a new stake in GE HealthCare Technologies during the third quarter valued at $206,000. TD Private Client Wealth LLC increased its position in shares of GE HealthCare Technologies by 213.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,478 shares of the company’s stock valued at $1,077,000 after purchasing an additional 7,820 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of GE HealthCare Technologies by 18.8% in the 3rd quarter. Toronto Dominion Bank now owns 153,690 shares of the company’s stock worth $14,424,000 after purchasing an additional 24,293 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 11.2% in the third quarter. Coldstream Capital Management Inc. now owns 9,564 shares of the company’s stock worth $891,000 after buying an additional 965 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $82.72 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm’s fifty day simple moving average is $88.65 and its 200 day simple moving average is $83.55. The stock has a market cap of $37.79 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. GE HealthCare Technologies has a twelve month low of $66.39 and a twelve month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts predict that GE HealthCare Technologies will post 4.29 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.03 per share. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.