Brokerages Set GE HealthCare Technologies Inc. (NASDAQ:GEHC) Target Price at $77.73

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been given an average recommendation of “Moderate Buy” by the twenty-two research firms that are currently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $78.3913.

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Hovde Group began coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of large investors have recently modified their holdings of GEHC. Andra AP fonden boosted its stake in shares of GE HealthCare Technologies by 8,646.2% during the 2nd quarter. Andra AP fonden now owns 113,700 shares of the company’s stock worth $7,278,000 after acquiring an additional 112,400 shares in the last quarter. State Street Corp raised its stake in shares of GE HealthCare Technologies by 1.6% in the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after acquiring an additional 323,090 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in GE HealthCare Technologies by 10.5% in the 2nd quarter. Anchor Investment Management LLC now owns 2,804 shares of the company’s stock worth $179,000 after purchasing an additional 266 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in GE HealthCare Technologies in the 2nd quarter worth approximately $100,000. Finally, Community Bank of Raymore boosted its position in GE HealthCare Technologies by 30.4% during the second quarter. Community Bank of Raymore now owns 20,595 shares of the company’s stock worth $1,318,000 after purchasing an additional 4,800 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 2.3%

Shares of GEHC opened at $66.27 on Friday. The company’s 50-day moving average price is $68.38 and its 200 day moving average price is $67.46. GE HealthCare Technologies has a 12-month low of $58.75 and a 12-month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a market cap of $29.93 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. On average, sell-side analysts forecast that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.21%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.