GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives $77.73 Consensus PT from Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned an average rating of “Hold” from the twenty-one research firms that are covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $77.7273.

GEHC has been the subject of a number of analyst reports. Piper Sandler reissued a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Evercore restated an “outperform” rating and issued a $84.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 price objective for the company. Finally, BTIG Research reissued a “buy” rating and issued a $79.00 price objective on shares of GE HealthCare Technologies in a report on Wednesday, August 19th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GEHC. Empowered Funds LLC increased its stake in GE HealthCare Technologies by 6.1% during the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock valued at $2,328,000 after buying an additional 1,665 shares during the period. Acadian Asset Management LLC acquired a new position in shares of GE HealthCare Technologies during the first quarter valued at approximately $259,000. Cresset Asset Management LLC raised its stake in shares of GE HealthCare Technologies by 12.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock worth $578,000 after buying an additional 865 shares in the last quarter. Jump Financial LLC raised its stake in shares of GE HealthCare Technologies by 317.6% in the 2nd quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock worth $2,084,000 after buying an additional 21,396 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of GE HealthCare Technologies by 8.6% in the second quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock valued at $299,000 after buying an additional 320 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $70.42 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The firm has a market capitalization of $31.81 billion, a PE ratio of 16.15, a P/E/G ratio of 1.88 and a beta of 0.70. GE HealthCare Technologies has a 1-year low of $58.75 and a 1-year high of $89.77. The business’s fifty day moving average price is $68.02 and its two-hundred day moving average price is $69.14.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. On average, research analysts expect that GE HealthCare Technologies will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s payout ratio is 3.21%.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.