GE HealthCare Technologies Inc. (GEHC) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately bullish: GE HealthCare has a consensus “Moderate Buy” rating from 22 brokerages, with an average 12-month price target of $78.35 versus the reported share price of $68.47.
• The company’s latest quarter exceeded expectations, with adjusted earnings of $1.13 per share and revenue of $5.29 billion, up 5.8% year over year.
• GE HealthCare raised its quarterly dividend to $0.04 per share, while institutional investors own a substantial 82.06% of outstanding shares.

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-two brokerages that are currently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $78.35.

Several research firms have issued reports on GEHC. Piper Sandler restated a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE HealthCare Technologies in a report on Monday, October 5th. Barclays upgraded GE HealthCare Technologies to a "strong-buy" rating in a research report on Wednesday, October 7th. Citigroup cut their target price on GE HealthCare Technologies from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Finally, Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 30th.

GE HealthCare Technologies Trading Down 0.5%

Shares of GE HealthCare Technologies stock opened at $68.47 on Thursday. The company has a fifty day simple moving average of $68.58 and a 200-day simple moving average of $66.76. 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. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.82 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $5.26 billion. During the same period last year, the firm posted $1.06 EPS. The company's revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.0350. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.21%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its holdings in shares of GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock worth $278,725,000 after acquiring an additional 33,629,559 shares during the period. State Street Corp raised its holdings in GE HealthCare Technologies by 1.6% during the second quarter. State Street Corp now owns 20,861,566 shares of the company's stock worth $1,335,349,000 after purchasing an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock worth $861,307,000 after purchasing an additional 1,571,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in GE HealthCare Technologies by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company's stock worth $384,219,000 after purchasing an additional 105,995 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in GE HealthCare Technologies by 4.1% during the second quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company's stock worth $286,933,000 after purchasing an additional 177,028 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company's portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.

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