GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives $95.00 Consensus Target Price from Brokerages

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $94.23.

A number of research analysts have recently weighed in on GEHC shares. UBS Group cut 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 research note on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their target price 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. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company.

Insider Activity at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in GE HealthCare Technologies by 9.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in GE HealthCare Technologies by 41.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock worth $145,021,000 after buying an additional 550,612 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after buying an additional 189,956 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $91.67 on Wednesday. The firm has a 50 day moving average of $85.60 and a 200-day moving average of $83.28. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.55. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market cap of $41.84 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.40 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same period last year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts expect that GE HealthCare Technologies will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is 3.51%.

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.