GE HealthCare Technologies (NASDAQ:GEHC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Citigroup boosted their target price on shares of GE HealthCare Technologies from $71.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research note on Thursday. Weiss Ratings upgraded shares of GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, BMO Capital Markets assumed coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.57.

GE HealthCare Technologies Stock Up 3.9%

GEHC opened at $79.55 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 0.97. The business has a 50 day simple moving average of $68.55 and a 200-day simple moving average of $70.03. The stock has a market capitalization of $35.93 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.97 and a beta of 0.73. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that GE HealthCare Technologies will post 5.02 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a $0.04 dividend. The ex-dividend date is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s payout ratio is currently 3.38%.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds have recently bought and sold shares of GEHC. Northside Capital Management LLC grew its position in shares of GE HealthCare Technologies by 26.5% in the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company’s stock valued at $15,485,000 after purchasing an additional 50,634 shares during the period. Hsbc Holdings PLC increased its stake in GE HealthCare Technologies by 22.8% in the second quarter. Hsbc Holdings PLC now owns 1,004,490 shares of the company’s stock valued at $64,217,000 after purchasing an additional 186,800 shares during the last quarter. Trian Fund Management L.P. lifted its position in GE HealthCare Technologies by 76,194.4% during the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock worth $197,493,000 after buying an additional 3,081,300 shares during the period. TD Waterhouse Canada Inc. lifted its position in GE HealthCare Technologies by 5.1% during the third quarter. TD Waterhouse Canada Inc. now owns 608,890 shares of the company’s stock worth $39,015,000 after buying an additional 29,752 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE HealthCare Technologies by 0.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,541,393 shares of the company’s stock worth $162,675,000 after buying an additional 20,180 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 is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.