Brokerages Set GE HealthCare Technologies Inc. (NASDAQ:GEHC) Price Target at $77.73

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $77.7273.

A number of brokerages have issued reports on GEHC. BNP Paribas Exane cut their target price on GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Citigroup boosted their price target on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. UBS Group lifted 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. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th.

GE HealthCare Technologies Trading Down 1.0%

Shares of GE HealthCare Technologies stock opened at $71.72 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $67.67 and its 200-day simple moving average is $69.33. The stock has a market cap of $32.40 billion, a P/E ratio of 16.45, a P/E/G ratio of 2.09 and a beta of 0.69. GE HealthCare Technologies has a 1-year low of $58.75 and a 1-year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts predict that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company 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. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s payout ratio is presently 3.21%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GEHC. Banque Cantonale Vaudoise increased its position in shares of GE HealthCare Technologies by 16,539.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company’s stock worth $1,849,000 after purchasing an additional 25,801 shares during the last quarter. Allstate Corp lifted its position in GE HealthCare Technologies by 100.3% in the fourth quarter. Allstate Corp now owns 32,688 shares of the company’s stock valued at $2,681,000 after buying an additional 16,365 shares during the last quarter. Auto Owners Insurance Co lifted its position in GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after buying an additional 33,629,559 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in GE HealthCare Technologies during the fourth quarter worth about $43,394,000. Finally, Northside Capital Management LLC boosted its stake in GE HealthCare Technologies by 26.5% during the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company’s stock worth $15,485,000 after buying an additional 50,634 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.