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

Key Points

• GE HealthCare Technologies Inc. has received an average rating of "Moderate Buy" from analysts, with three firms recommending a hold and eight firms suggesting a buy.
• The company reported a Q2 EPS of $1.06, surpassing expectations, and its revenue increased 3.5% year-over-year, amounting to $5 billion.
• GE HealthCare has initiated a share repurchase program of $1 billion, indicating the board's confidence in the company's valuation.

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $88.5455.

A number of equities research analysts have commented on the company. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Citigroup upped their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley cut their target price on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Evercore ISI cut their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st.

GE HealthCare Technologies Trading Down 0.4%

NASDAQ GEHC opened at $73.40 on Friday. The business's 50-day moving average price is $73.90 and its two-hundred day moving average price is $75.71. GE HealthCare Technologies has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a market capitalization of $33.51 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 2.81 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The business's revenue was up 3.5% on a year-over-year basis. On average, analysts expect that GE HealthCare Technologies will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is 2.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GEHC. N.E.W. Advisory Services LLC purchased a new stake in shares of GE HealthCare Technologies in the first quarter worth approximately $25,000. Bogart Wealth LLC raised its stake in shares of GE HealthCare Technologies by 260.0% in the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after purchasing an additional 247 shares during the last quarter. Allianz SE raised its stake in shares of GE HealthCare Technologies by 165.2% in the second quarter. Allianz SE now owns 350 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Stonebridge Financial Group LLC raised its stake in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Finally, LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after purchasing an additional 123 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

About GE HealthCare Technologies

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.

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