GE HealthCare Technologies (NASDAQ:GEHC) Upgraded at Barclays

Barclays upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks reports.

Several other brokerages have also weighed in on GEHC. Piper Sandler reissued a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Citigroup reduced their target price on shares of 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. UBS Group boosted their price target on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Zacks Research raised shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.52.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $65.74 on Wednesday. The business’s 50 day simple moving average is $68.68 and its 200 day simple moving average is $66.87. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.69 and a beta of 0.73. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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 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 period last year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies will post 4.93 EPS 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. Stockholders of record on Friday, October 23rd will be given a dividend of $0.04 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.67%.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its stake in GE HealthCare Technologies by 1.6% during the second quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after acquiring an additional 323,090 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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 boosted its holdings in 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. Boston Partners boosted its holdings in GE HealthCare Technologies by 21.7% in the 4th quarter. Boston Partners now owns 4,659,562 shares of the company’s stock valued at $382,223,000 after purchasing an additional 830,626 shares during the period. Finally, Cynosure Group LLC grew its position in shares of GE HealthCare Technologies by 21,045.4% during the 4th quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock valued at $358,055,000 after purchasing an additional 4,344,817 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other 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.