GE HealthCare Technologies (NASDAQ:GEHC) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a hold rating to a buy rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $103.00 target price on the stock, up from their prior target price of $95.00.

GEHC has been the topic of a number of other reports. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group downgraded 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 report on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus lifted 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 note on Monday, September 30th. Finally, Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Price Performance

GEHC stock opened at $84.76 on Wednesday. The firm has a 50 day moving average of $82.25 and a 200-day moving average of $84.10. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $38.72 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. GE HealthCare Technologies has a 12 month low of $71.31 and a 12 month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies during the third quarter worth about $26,000. Finally, Elkhorn Partners Limited Partnership purchased a new stake in GE HealthCare Technologies in the second quarter worth about $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

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.