GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Average Recommendation of “Hold” from Brokerages

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been assigned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $77.7273.

Several brokerages have weighed in on GEHC. Citigroup lifted their target price on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. HSBC decreased their price target on GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Weiss Ratings lowered shares of GE HealthCare Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Barclays cut their price objective on shares of GE HealthCare Technologies from $87.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Finally, UBS Group raised their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st.

Insider Buying and Selling

In other GE HealthCare Technologies news, Director Rodney F. Hochman purchased 1,618 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $62.03 per share, with a total value of $100,364.54. Following the acquisition, the director directly owned 1,618 shares of the company’s stock, valued at $100,364.54. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Lobo purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the purchase, the director owned 14,363 shares of the company’s stock, valued at approximately $921,817.34. This represents a 229.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GEHC. Trust Co. of Vermont acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth $165,000. Plato Investment Management Ltd acquired a new stake in shares of GE HealthCare Technologies in the second quarter valued at about $176,000. S&CO Inc. purchased a new stake in GE HealthCare Technologies during the second quarter worth about $308,000. Stoneridge Investment Partners LLC purchased a new stake in GE HealthCare Technologies during the second quarter worth about $723,000. Finally, Wedge Capital Management L L P NC grew its position in GE HealthCare Technologies by 27.8% during the second quarter. Wedge Capital Management L L P NC now owns 461,283 shares of the company’s stock worth $29,527,000 after buying an additional 100,462 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $71.77 on Friday. GE HealthCare Technologies has a one year low of $58.75 and a one year high of $89.77. The stock has a market capitalization of $32.42 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.03 and a beta of 0.69. The company has a 50-day simple moving average of $64.72 and a 200-day simple moving average of $70.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26.

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

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be given a $0.035 dividend. The ex-dividend date is Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.21%.

About GE HealthCare Technologies

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.