GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives $77.73 Consensus Price Target from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned a consensus rating of “Hold” from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $77.7273.

Several equities research analysts recently commented on the stock. Royal Bank Of Canada began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 price objective on the stock. Piper Sandler reissued a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Citigroup boosted their price target on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, BMO Capital Markets initiated coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 target price on the stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $71.72 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company has a market capitalization of $32.39 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. The company’s 50 day moving average price is $67.67 and its two-hundred day moving average price is $69.26. GE HealthCare Technologies has a 52 week low of $58.75 and a 52 week high of $89.77.

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

GE HealthCare Technologies Announces Dividend

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

Institutional Trading of GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi grew its position in GE HealthCare Technologies by 129.9% in the second quarter. Amundi now owns 2,500,094 shares of the company’s stock valued at $160,031,000 after purchasing an additional 1,412,453 shares in the last quarter. Wellington Grp LLC lifted its position in GE HealthCare Technologies by 70.7% during the 2nd quarter. Wellington Grp LLC now owns 11,775 shares of the company’s stock worth $754,000 after buying an additional 4,875 shares in the last quarter. California State Teachers Retirement System lifted its position in GE HealthCare Technologies by 5,693.1% during the 2nd quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company’s stock worth $2,618,900,000 after buying an additional 40,207,660 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $263,000. Finally, Varenne Capital Partners grew its holdings in shares of GE HealthCare Technologies by 1,273.1% in the 2nd quarter. Varenne Capital Partners now owns 242,161 shares of the company’s stock valued at $15,490,000 after acquiring an additional 224,525 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.