GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives $88.27 Average PT from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $88.27.

Several analysts have recently weighed in on the stock. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley lowered their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Piper Sandler lowered their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Finally, Evercore ISI decreased their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st.

Institutional Trading of GE HealthCare Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after purchasing an additional 342,819 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock valued at $630,751,000 after purchasing an additional 1,252,613 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $488,531,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.0%

NASDAQ GEHC opened at $71.13 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The firm has a market cap of $32.57 billion, a PE ratio of 16.43, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies has a one year low of $57.65 and a one year high of $94.80. The firm’s fifty day moving average is $68.35 and its two-hundred day moving average is $78.84.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.95%.

About GE HealthCare Technologies

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.