GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Has Consensus Target Price of $77.73 According to Brokerages

by · The Cerbat Gem

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $78.39.

Several analysts recently issued reports on the company. Royal Bank Of Canada started coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 target price on the stock. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Hovde Group began coverage on GE HealthCare Technologies in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Finally, Needham & Company LLC started coverage on GE HealthCare Technologies in a report on Tuesday. They set a “buy” rating and a $93.00 price target for the company.

Get Our Latest Report on GE HealthCare Technologies

GE HealthCare Technologies Stock Performance

GEHC opened at $66.38 on Friday. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 1.75 and a beta of 0.70. The business’s 50-day moving average price is $68.45 and its two-hundred day moving average price is $67.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. GE HealthCare Technologies has a 1 year low of $58.75 and a 1 year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities analysts expect that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.04 per share. This is an increase 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 of this dividend is Friday, October 23rd. GE HealthCare Technologies’s payout ratio is 3.21%.

Institutional Trading of GE HealthCare Technologies

A number of institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its position in shares of GE HealthCare Technologies by 9.2% in the second quarter. QRG Capital Management Inc. now owns 44,349 shares of the company’s stock valued at $2,839,000 after buying an additional 3,733 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in GE HealthCare Technologies by 22.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,259 shares of the company’s stock worth $1,873,000 after buying an additional 5,368 shares in the last quarter. Andra AP fonden grew its position in GE HealthCare Technologies by 8,646.2% during the second quarter. Andra AP fonden now owns 113,700 shares of the company’s stock worth $7,278,000 after buying an additional 112,400 shares in the last quarter. State Street Corp increased its stake in GE HealthCare Technologies by 1.6% during the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock worth $1,335,349,000 after acquiring an additional 323,090 shares during the period. Finally, Anchor Investment Management LLC increased its stake in GE HealthCare Technologies by 10.5% during the 2nd quarter. Anchor Investment Management LLC now owns 2,804 shares of the company’s stock worth $179,000 after acquiring an additional 266 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

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GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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