GE HealthCare Technologies’ (GEHC) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $79.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 target price on the stock. Jefferies Financial Group decreased their price objective on shares of GE HealthCare Technologies from $105.00 to $90.00 in a report on Thursday, April 30th. Barclays lowered their price objective on shares of GE HealthCare Technologies from $87.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. 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 target price on the stock. Finally, Evercore reaffirmed an “outperform” rating and issued a $84.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Stock Up 1.0%

GE HealthCare Technologies stock opened at $74.82 on Wednesday. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.14 and a beta of 0.69. The stock has a fifty day simple moving average of $66.61 and a two-hundred day simple moving average of $69.60. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts predict that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Hedge Funds Weigh In On GE HealthCare Technologies

Several institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its holdings in GE HealthCare Technologies by 9.5% during the second quarter. TD Waterhouse Canada Inc. now owns 579,138 shares of the company’s stock valued at $37,590,000 after buying an additional 50,318 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 15.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,570 shares of the company’s stock worth $677,000 after acquiring an additional 1,391 shares during the last quarter. NEOS Investment Management LLC grew its position in shares of GE HealthCare Technologies by 21.2% during the 2nd quarter. NEOS Investment Management LLC now owns 375,920 shares of the company’s stock valued at $24,063,000 after acquiring an additional 65,678 shares during the period. Nykredit A S bought a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $6,405,000. Finally, XML Financial LLC increased its stake in shares of GE HealthCare Technologies by 2.1% in the 2nd quarter. XML Financial LLC now owns 9,464 shares of the company’s stock worth $606,000 after purchasing an additional 194 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.