GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $88.27.

A number of brokerages have weighed in on GEHC. Evercore ISI decreased their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Morgan Stanley decreased their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Citigroup dropped their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th.

GE HealthCare Technologies Price Performance

Shares of GEHC traded down $0.63 during midday trading on Thursday, hitting $69.87. 5,722,041 shares of the company traded hands, compared to its average volume of 3,356,168. The stock has a 50-day moving average of $72.49 and a 200-day moving average of $80.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies has a one year low of $57.65 and a one year high of $94.80. The firm has a market cap of $31.99 billion, a P/E ratio of 16.14, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts predict that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Hedge Funds Weigh In On GE HealthCare Technologies

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the period. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after acquiring an additional 342,819 shares during the last quarter. Invesco Ltd. grew its stake in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Finally, Norges Bank purchased a new position in GE HealthCare Technologies during the 4th quarter valued at about $488,531,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.