Argus Issues Positive Forecast for GE HealthCare Technologies (NASDAQ:GEHC) Stock Price

GE HealthCare Technologies (NASDAQ:GEHC) had its price target hoisted by Argus from $85.00 to $110.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Wolfe Research began coverage on GE HealthCare Technologies in a research report on Tuesday, October 20th. They set a “peer perform” rating for the company. Hovde Group began coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target on the stock. Barclays increased their price target on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Needham & Company LLC restated a “buy” rating and set a $93.00 price target on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Finally, Royal Bank Of Canada raised their price objective on shares of GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.17.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $82.60 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $37.35 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.11 and a beta of 0.65. The stock has a 50 day moving average of $70.06 and a 200 day moving average of $70.09. 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 issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 EPS for the quarter, topping 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 business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company posted $1.07 earnings per share. GE HealthCare Technologies’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GE HealthCare Technologies will post 5.02 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed 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. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is 3.38%.

Institutional Investors Weigh In On GE HealthCare Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth $314,000. Private Wealth Asset Management LLC grew its position in shares of GE HealthCare Technologies by 671.8% in the third quarter. Private Wealth Asset Management LLC now owns 3,396 shares of the company’s stock valued at $222,000 after purchasing an additional 2,956 shares in the last quarter. WealthTrust Axiom LLC raised its stake in shares of GE HealthCare Technologies by 1.1% during the 3rd quarter. WealthTrust Axiom LLC now owns 12,892 shares of the company’s stock valued at $843,000 after purchasing an additional 146 shares during the period. Private Advisor Group LLC raised its stake in shares of GE HealthCare Technologies by 96.6% during the 3rd quarter. Private Advisor Group LLC now owns 39,025 shares of the company’s stock valued at $2,551,000 after purchasing an additional 19,171 shares during the period. Finally, Boston Partners lifted its holdings in GE HealthCare Technologies by 20.1% during the 3rd quarter. Boston Partners now owns 6,188,021 shares of the company’s stock worth $404,501,000 after purchasing an additional 1,034,674 shares in the last quarter. 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 equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.