GE HealthCare Technologies (NASDAQ:GEHC) Cut to Hold at Wall Street Zen

Key Points

• GE HealthCare Technologies was recently downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock.
• Despite the downgrade, several other analysts have maintained or improved their ratings on the company, with Citigroup raising the price target to $93 and Zacks Research upgrading it to a "strong-buy" rating.
• GE HealthCare reported a strong quarterly performance, exceeding EPS estimates by $0.15 and achieving $5 billion in revenue, up 3.5% year-over-year.

Wall Street Zen cut shares of GE HealthCare Technologies (NASDAQ:GEHC - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

GEHC has been the topic of a number of other reports. Citigroup increased their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Finally, Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.40.

GE HealthCare Technologies Stock Down 0.1%

Shares of GE HealthCare Technologies stock traded down $0.08 during trading on Friday, reaching $74.69. 134,890 shares of the company traded hands, compared to its average volume of 3,940,412. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company has a 50 day moving average price of $74.54 and a 200-day moving average price of $73.02. GE HealthCare Technologies has a 1-year low of $57.65 and a 1-year high of $94.80. The firm has a market capitalization of $34.10 billion, a PE ratio of 15.31, a P/E/G ratio of 2.86 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities research analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio is currently 2.87%.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of large investors have recently made changes to their positions in the company. Caldwell Trust Co bought a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at approximately $1,532,000. Valeo Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 43.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,900 shares of the company's stock valued at $807,000 after acquiring an additional 3,303 shares during the period. Osaic Holdings Inc. grew its stake in shares of GE HealthCare Technologies by 18.1% during the 2nd quarter. Osaic Holdings Inc. now owns 224,869 shares of the company's stock valued at $16,674,000 after acquiring an additional 34,499 shares during the period. Orion Porfolio Solutions LLC boosted its stake in GE HealthCare Technologies by 13.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 78,061 shares of the company's stock worth $5,782,000 after purchasing an additional 8,959 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in GE HealthCare Technologies by 229.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 71,233 shares of the company's stock valued at $5,277,000 after buying an additional 49,601 shares in the last quarter. 82.06% of the stock is currently owned by 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.