GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Has Average Price Target of $80.87 According to Brokerages

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned an average rating of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $82.17.

GEHC has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Barclays increased their price objective on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. BTIG Research raised their price objective on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Argus lifted their target price on shares of GE HealthCare Technologies from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup upped their target price on shares of GE HealthCare Technologies from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th.

GE HealthCare Technologies Stock Down 1.3%

Shares of GEHC opened at $82.60 on Monday. The firm has a market capitalization of $37.35 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.11 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.01 and a current ratio of 1.30. The business’s fifty day moving average price is $70.06 and its two-hundred day moving average price is $70.09. GE HealthCare Technologies has a 52 week low of $58.75 and a 52 week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that GE HealthCare Technologies will post 5.02 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.38%.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors have recently modified their holdings of the stock. Trian Fund Management L.P. raised its position in shares of GE HealthCare Technologies by 76,194.4% in the 2nd quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after acquiring an additional 3,081,300 shares during the period. Mizuho Markets Cayman LP grew its holdings in GE HealthCare Technologies by 173.2% during the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock valued at $218,416,000 after purchasing an additional 1,945,500 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after buying an additional 1,571,226 shares in the last quarter. Amundi raised its stake in GE HealthCare Technologies by 129.9% during the 2nd quarter. Amundi now owns 2,500,094 shares of the company’s stock worth $160,031,000 after buying an additional 1,412,453 shares during the period. Finally, Perpetual Ltd lifted its holdings in GE HealthCare Technologies by 107.4% during the third quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock worth $177,299,000 after acquiring an additional 1,404,683 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

About GE HealthCare Technologies

GE HealthCare Technologies Inc. is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.