GE HealthCare Technologies (NASDAQ:GEHC) Given New $75.00 Price Target at BTIG Research

GE HealthCare Technologies (NASDAQ:GEHC) had its price target decreased by BTIG Research from $79.00 to $75.00 in a report released on Monday morning, MarketBeat Ratings reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings raised GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Barclays upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Wednesday, October 7th. Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. UBS Group lifted their price target on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.35.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $67.74 on Monday. GE HealthCare Technologies has a 1 year low of $58.75 and a 1 year high of $89.77. The firm has a 50 day moving average of $68.64 and a 200-day moving average of $66.81. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $30.60 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS 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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the company earned $1.06 EPS. GE HealthCare Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that GE HealthCare Technologies will post 4.93 EPS for the current fiscal 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 given a $0.04 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. This represents a $0.16 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 3.67%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Auto Owners Insurance Co grew its holdings in GE HealthCare Technologies by 9,525.4% during the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after acquiring an additional 33,629,559 shares during the period. State Street Corp lifted its stake in shares of GE HealthCare Technologies by 1.6% in the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after purchasing an additional 323,090 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after purchasing an additional 105,995 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock worth $286,933,000 after purchasing an additional 177,028 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company’s portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.