GE HealthCare Technologies Inc. (NASDAQ:GEHC) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts rate GE HealthCare “Hold” overall: Of 21 analysts, 11 recommend holding the stock and 10 recommend buying it. The average 12-month price target is $77.73, compared with the reported share price of $64.13.
• Recent quarterly results exceeded expectations: GE HealthCare reported adjusted earnings of $1.13 per share versus the $1.04 consensus estimate, while revenue reached $5.29 billion and grew 5.8% year over year.
• Institutional ownership is substantial: Institutional investors own 82.06% of the company, with several major investors—including Norges Bank and Trian Fund Management—recently increasing or initiating positions.

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-one analysts that are covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $77.7273.

Several brokerages have recently commented on GEHC. UBS Group increased their price target 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. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Hovde Group initiated coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They issued a "market perform" rating and a $14.00 price objective for the company. Piper Sandler reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Finally, Oppenheimer restated an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th.

GE HealthCare Technologies Trading Down 0.5%

Shares of NASDAQ GEHC opened at $64.13 on Friday. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.69 and a beta of 0.70. The business has a 50 day simple moving average of $68.30 and a 200 day simple moving average of $67.73. GE HealthCare Technologies has a 52 week low of $58.75 and a 52 week high of $89.77. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share 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 analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. On average, research analysts predict that GE HealthCare Technologies will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is currently 3.21%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Auto Owners Insurance Co boosted its position in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock worth $278,725,000 after purchasing an additional 33,629,559 shares during the period. Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $596,024,000. Cynosure Group LLC lifted its stake in shares of GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company's stock worth $358,055,000 after buying an additional 4,344,817 shares during the last quarter. Trian Fund Management L.P. boosted its holdings in shares of GE HealthCare Technologies by 76,194.4% during the 2nd quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company's stock worth $197,493,000 after buying an additional 3,081,300 shares during the period. Finally, Mizuho Markets Cayman LP boosted its holdings in shares of GE HealthCare Technologies by 173.2% during the 1st quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company's stock worth $218,416,000 after buying an additional 1,945,500 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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