GE HealthCare Technologies (NASDAQ:GEHC) Price Target Raised to $80.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price target lifted by UBS Group from $73.00 to $80.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Bank of America reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research note on Thursday, October 29th. Weiss Ratings raised GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.87.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $83.78 on Tuesday. The stock has a market capitalization of $37.88 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.16 and a beta of 0.65. The company’s 50-day simple moving average is $69.12 and its 200-day simple moving average is $70.04. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.01 and a current ratio of 1.30. GE HealthCare Technologies has a one year low of $58.75 and a one year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data 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 net margin of 9.96% and a return on equity of 20.45%. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders 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 annualized dividend 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 dividend payout ratio is presently 3.38%.

Institutional Trading of GE HealthCare Technologies

Large investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management acquired a new stake in GE HealthCare Technologies during the third quarter worth about $1,285,000. Joel Isaacson & Co. LLC bought a new position in GE HealthCare Technologies during the third quarter valued at about $207,000. Jacobi Capital Management LLC bought a new position in GE HealthCare Technologies during the third quarter valued at about $52,000. Jefferies Financial Group Inc. raised its holdings in GE HealthCare Technologies by 56.1% in the 3rd quarter. Jefferies Financial Group Inc. now owns 371,013 shares of the company’s stock valued at $24,253,000 after acquiring an additional 133,360 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in GE HealthCare Technologies by 226.1% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,784 shares of the company’s stock valued at $117,000 after acquiring an additional 1,237 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Company Profile

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.