GE HealthCare Technologies (NASDAQ:GEHC) Upgraded at Zacks Research

Key Points

• GE HealthCare Technologies has been upgraded to a "Strong-Buy" rating by Zacks Research, indicating increased analyst confidence in the company's stock performance.
• The stock currently holds a consensus rating of "Moderate Buy" among analysts, with an average price target of $88.55.
• In its latest earnings report, GE HealthCare Technologies surpassed analyst expectations by reporting $1.06 EPS, contributing to a year-over-year revenue increase of 3.5%.

Zacks Research upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC - Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Evercore ISI lowered their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group cut their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup raised their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Morgan Stanley cut their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Finally, BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $0.78 during midday trading on Thursday, reaching $72.38. 3,544,702 shares of the company's stock traded hands, compared to its average volume of 3,968,324. The company has a market cap of $33.05 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 2.82 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 1.16. GE HealthCare Technologies has a one year low of $57.65 and a one year high of $94.80. The stock has a 50 day moving average of $74.27 and a 200 day moving average of $74.40.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter valued at about $25,000. Allianz SE raised its holdings in GE HealthCare Technologies by 165.2% in the 2nd quarter. Allianz SE now owns 350 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the period. Bogart Wealth LLC raised its holdings in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC raised its holdings in GE HealthCare Technologies by 165.7% in the 1st 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 period. Finally, Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies in the 4th quarter worth about $30,000. 82.06% of the stock is currently 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.