GE HealthCare Technologies (NASDAQ:GEHC) Stock Rated Peer Perform in New Coverage at Wolfe Research

by · The Cerbat Gem

Wolfe Research assumed coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC – Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm issued a peer perform rating on the stock.

Several other equities analysts have also issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $93.00 target price on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Citigroup lowered their price target on GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Hovde Group initiated coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $78.35.

Read Our Latest Analysis on GEHC

GE HealthCare Technologies Stock Up 3.5%

Shares of GE HealthCare Technologies stock opened at $71.42 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77. The business has a fifty day simple moving average of $68.31 and a 200 day simple moving average of $66.75. The stock has a market cap of $32.26 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.82 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating 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 business 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 company posted $1.06 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies will post 4.93 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 23rd. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. NBH Bank acquired a new position in GE HealthCare Technologies in the second quarter valued at about $26,000. MidFirst Bank bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $35,000. Physician Wealth Advisors Inc. raised its position in shares of GE HealthCare Technologies by 60.4% during the first quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock worth $31,000 after purchasing an additional 163 shares during the period. Roble Belko & Company Inc raised its position in shares of GE HealthCare Technologies by 57.3% during the first quarter. Roble Belko & Company Inc now owns 497 shares of the company’s stock worth $35,000 after purchasing an additional 181 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth about $37,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Company Profile

(Get Free Report)

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

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