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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $95.09.

GEHC has been the subject of a number of recent research reports. Citigroup boosted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Mizuho upped their target price on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Morgan Stanley boosted their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Evercore ISI raised their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $86.24 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $88.92 and a 200 day simple moving average of $78.52. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a market cap of $39.35 billion, a P/E ratio of 28.56, a PEG ratio of 2.99 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the company earned $1.31 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.97%.

Institutional Investors Weigh In On GE HealthCare Technologies

Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in shares of GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares during the period. South Dakota Investment Council lifted its position in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after acquiring an additional 71,857 shares in the last quarter. Cerity Partners LLC lifted its position in shares of GE HealthCare Technologies by 27.2% during the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after acquiring an additional 9,809 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after acquiring an additional 1,250 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in shares of GE HealthCare Technologies by 22.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company’s stock valued at $33,731,000 after purchasing an additional 79,073 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.