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

Key Points

• Analysts have a “Moderate Buy” consensus on GE HealthCare, with 12 of 23 covering firms rating it a buy and 11 a hold. The average 12-month price target is $80.87.
• The company beat quarterly expectations, reporting adjusted earnings of $1.34 per share versus $1.20 estimated and revenue of $5.51 billion versus $5.35 billion; revenue rose 7.2% year over year.
• GE HealthCare raised its quarterly dividend from $0.035 to $0.04 per share, equivalent to an annualized dividend of $0.16.

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-three research firms that are covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $80.87.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a research note on Monday, October 5th. Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Oppenheimer restated an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, October 29th. Finally, UBS Group increased their price target on GE HealthCare Technologies from $73.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, November 3rd.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of large investors have recently modified their holdings of GEHC. NBH Bank acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $26,000. Provenance Wealth Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 401.0% during the third quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company's stock valued at $32,000 after purchasing an additional 393 shares during the period. Global Assets Advisory LLC acquired a new position in shares of GE HealthCare Technologies during the first quarter valued at $37,000. Fortitude Family Office LLC increased its holdings in shares of GE HealthCare Technologies by 249.1% during the third quarter. Fortitude Family Office LLC now owns 597 shares of the company's stock valued at $39,000 after purchasing an additional 426 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of GE HealthCare Technologies during the third quarter valued at about $44,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $82.38 on Monday. The firm has a market capitalization of $37.25 billion, a PE ratio of 17.38, a P/E/G ratio of 2.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01. The business has a 50-day moving average of $69.32 and a two-hundred day moving average of $70.05. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. The business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, research analysts forecast that GE HealthCare Technologies will post 5.02 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

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

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.

GE HealthCare became an independent publicly traded company in January 2023 through its separation from General Electric.

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