GE HealthCare Technologies (NASDAQ:GEHC) Stock Rating Upgraded by BTIG Research

BTIG Research upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a neutral rating to a buy rating in a research report released on Wednesday, Marketbeat.com reports. BTIG Research currently has $100.00 price target on the stock.

Several other analysts also recently commented on the company. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a buy rating and a $100.00 target price on the stock. Redburn Atlantic upgraded GE HealthCare Technologies to a strong-buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a neutral rating and a $90.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a neutral rating and a $87.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of Moderate Buy and an average price target of $95.00.

GE HealthCare Technologies Stock Down 0.4 %

GEHC stock opened at $90.28 on Wednesday. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market cap of $41.21 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17. The business has a 50 day moving average of $83.86 and a 200 day moving average of $83.36.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on 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 approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently bought and sold shares of GEHC. Pathway Financial Advisers LLC bought a new position in GE HealthCare Technologies in the 1st quarter worth $25,000. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies during the second quarter valued at about $26,000. BNP Paribas bought a new stake in GE HealthCare Technologies during the first quarter valued at about $30,000. Sachetta LLC bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $31,000. Finally, Rise Advisors LLC raised its holdings in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares during the period. 82.06% of the stock is owned by institutional investors.

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.