GE HealthCare Technologies (NASDAQ:GEHC) Upgraded to “Moderate Buy” at Needham & Company LLC

by · The Cerbat Gem

Needham & Company LLC upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC – Free Report) to a moderate buy rating in a research note issued to investors on Tuesday,Zacks reports.

Other equities analysts have also issued research reports about the stock. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. UBS Group lifted their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Citigroup boosted their price target on GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Evercore restated an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.39.

Get Our Latest Analysis on GEHC

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $66.27 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The company has a 50 day simple moving average of $68.38 and a two-hundred day simple moving average of $67.46. The company has a market capitalization of $29.93 billion, a PE ratio of 15.20, a P/E/G ratio of 1.71 and a beta of 0.70.

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

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.04. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio is currently 3.21%.

Hedge Funds Weigh In On GE HealthCare Technologies

Large investors have recently bought and sold shares of the stock. NBH Bank bought a new position in GE HealthCare Technologies in the second quarter valued at $26,000. Godfrey Financial Associates Inc. bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at about $27,000. Physician Wealth Advisors Inc. raised its holdings in shares of GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 163 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of GE HealthCare Technologies during the 4th quarter valued at about $33,000. Finally, Hilton Head Capital Partners LLC bought a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $34,000. 82.06% of the stock is currently owned by institutional investors.

About GE HealthCare Technologies

(Get Free Report)

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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