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

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been given an average recommendation of “Hold” by the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $77.7273.

Several research firms have commented on GEHC. HSBC decreased their price objective on shares of GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Hovde Group initiated coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They set a “market perform” rating and a $14.00 target price for the company. Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday. Finally, BTIG Research raised their price objective on shares of GE HealthCare Technologies from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $69.73 on Friday. 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 company has a market capitalization of $31.50 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.97 and a beta of 0.72. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77. The stock has a 50 day moving average of $64.13 and a 200-day moving average of $70.33.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that GE HealthCare Technologies will post 4.91 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

Insider Buying and Selling

In other news, Director Watkin Phoebe L. Yang purchased 1,000 shares of GE HealthCare Technologies stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average cost of $63.01 per share, for a total transaction of $63,010.00. Following the purchase, the director directly owned 13,702 shares of the company’s stock, valued at $863,363.02. This trade represents a 7.87% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rodney F. Hochman acquired 1,618 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $62.03 per share, for a total transaction of $100,364.54. Following the completion of the acquisition, the director owned 1,618 shares in the company, valued at approximately $100,364.54. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 12,618 shares of company stock valued at $805,175. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company’s stock worth $4,287,658,000 after purchasing an additional 267,058 shares during the period. Auto Owners Insurance Co boosted its stake in shares of GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after buying an additional 33,629,559 shares during the period. Dodge & Cox grew its position in GE HealthCare Technologies by 13.4% during the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock worth $2,559,945,000 after buying an additional 3,693,918 shares in the last quarter. Capital Research Global Investors grew its position in GE HealthCare Technologies by 1.6% during the fourth quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock worth $2,080,248,000 after buying an additional 389,796 shares in the last quarter. Finally, State Street Corp increased its stake in GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after acquiring an additional 401,932 shares during the period. 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.