JPMorgan Chase & Co. Initiates Coverage on GE HealthCare Technologies (NASDAQ:GEHC)

JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $90.00 target price on the stock.

Several other brokerages also recently weighed in on GEHC. Redburn Atlantic upgraded GE HealthCare Technologies to a strong-buy rating in a report on Thursday, August 1st. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a buy rating and a $100.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a neutral rating and a $87.00 price target on the stock. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has an average rating of Moderate Buy and an average target price of $94.58.

GE HealthCare Technologies Trading Up 1.9 %

Shares of NASDAQ GEHC opened at $87.19 on Monday. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The firm has a 50-day moving average of $82.65 and a 200 day moving average of $83.48. The stock has a market cap of $39.80 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the business earned $0.92 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that GE HealthCare Technologies will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors have recently made changes to their positions in the business. Wynn Capital LLC increased its holdings in GE HealthCare Technologies by 4.1% during the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after buying an additional 122 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of GE HealthCare Technologies by 8.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after purchasing an additional 127 shares in the last quarter. Quarry LP raised its holdings in GE HealthCare Technologies by 28.3% in the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares during the period. Fiduciary Trust Co lifted its position in GE HealthCare Technologies by 1.8% during the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock valued at $595,000 after purchasing an additional 133 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in GE HealthCare Technologies by 21.3% during the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock valued at $71,000 after purchasing an additional 137 shares during the period. Institutional investors own 82.06% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.