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

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $78.39.

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Oppenheimer reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. UBS Group lifted their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Needham & Company LLC started coverage on shares of GE HealthCare Technologies in a research report on Tuesday. They set a “buy” rating and a $93.00 target price for the company. Finally, Hovde Group assumed coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target on the stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Mount Vernon Associates Inc. MD grew its position in shares of GE HealthCare Technologies by 0.8% during the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after buying an additional 144 shares during the period. Essex Financial Services Inc. increased its stake in shares of GE HealthCare Technologies by 1.8% in the 1st quarter. Essex Financial Services Inc. now owns 9,024 shares of the company’s stock valued at $642,000 after acquiring an additional 156 shares during the last quarter. Brown Lisle Cummings Inc. raised its position in shares of GE HealthCare Technologies by 29.3% in the 1st quarter. Brown Lisle Cummings Inc. now owns 706 shares of the company’s stock valued at $50,000 after acquiring an additional 160 shares during the period. Beacon Financial Advisory LLC raised its position in shares of GE HealthCare Technologies by 5.8% in the 1st quarter. Beacon Financial Advisory LLC now owns 2,965 shares of the company’s stock valued at $211,000 after acquiring an additional 162 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its stake in GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $66.63 on Friday. The business’s 50-day simple moving average is $68.52 and its 200 day simple moving average is $67.32. The stock has a market cap of $30.10 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.76 and a beta of 0.70. GE HealthCare Technologies has a 12-month low of $58.75 and a 12-month high of $89.77. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.26 billion. During the same period in the previous year, the business posted $1.06 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, 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 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 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies’s payout ratio is presently 3.21%.

About GE HealthCare Technologies

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.