GE HealthCare Technologies (NASDAQ:GEHC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. BTIG Research raised their price target on shares of GE HealthCare Technologies from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Citigroup lifted their price objective on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn lowered their price objective on GE HealthCare Technologies from $110.00 to $98.00 in a research note on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $72.28 on Tuesday. GE HealthCare Technologies has a 1-year low of $58.75 and a 1-year 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. The business’s 50 day moving average is $65.34 and its 200-day moving average is $69.82. The firm has a market capitalization of $32.65 billion, a PE ratio of 16.58, a PEG ratio of 2.10 and a beta of 0.69.

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 the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders 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 payout ratio is 3.21%.

Insiders Place Their Bets

In other news, Director Kevin Lobo acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $64.18 per share, with a total value of $641,800.00. Following the completion of the acquisition, the director owned 14,363 shares in the company, valued at approximately $921,817.34. This represents a 229.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of large investors have recently bought and sold shares of the business. Western Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company’s stock worth $430,000 after purchasing an additional 125 shares during the period. United Community Bank raised its position in GE HealthCare Technologies by 10.2% during the 4th quarter. United Community Bank now owns 1,410 shares of the company’s stock valued at $116,000 after purchasing an additional 130 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in GE HealthCare Technologies by 3.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company’s stock worth $293,000 after buying an additional 134 shares during the period. Quadrant Capital Group LLC grew its position in shares of GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company’s stock worth $1,030,000 after buying an additional 140 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD grew its position in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after buying an additional 144 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

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.