GE HealthCare Technologies Inc. (GEHC) – What Are Brokerages Thinking About This Stock?

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has received an average rating of “Moderate Buy” from the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $78.35.

Several research firms recently commented on GEHC. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a report on Monday, October 5th. Citigroup dropped their price target on GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Evercore restated an “outperform” rating and issued a $84.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th.

GE HealthCare Technologies Stock Up 0.3%

GEHC opened at $69.76 on Thursday. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $68.47 and its two-hundred day moving average price is $66.77. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.84 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data 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. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%. GE HealthCare Technologies’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. As a group, equities analysts expect that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently made changes to their positions in the stock. Mount Vernon Associates Inc. MD raised its stake in GE HealthCare Technologies by 0.8% during the first quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after purchasing an additional 144 shares during the period. Essex Financial Services Inc. grew its stake in shares of GE HealthCare Technologies by 1.8% in the 1st quarter. Essex Financial Services Inc. now owns 9,024 shares of the company’s stock valued at $642,000 after buying an additional 156 shares during the period. Brown Lisle Cummings Inc. grew its stake in shares of GE HealthCare Technologies by 29.3% in the 1st quarter. Brown Lisle Cummings Inc. now owns 706 shares of the company’s stock valued at $50,000 after buying an additional 160 shares during the period. Beacon Financial Advisory LLC grew its stake in shares of GE HealthCare Technologies by 5.8% in the 1st quarter. Beacon Financial Advisory LLC now owns 2,965 shares of the company’s stock valued at $211,000 after buying an additional 162 shares during the period. Finally, Physician Wealth Advisors Inc. grew its stake in shares of GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 163 shares during the period. Institutional investors own 82.06% of the company’s stock.

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.