BTIG Research Upgrades GE HealthCare Technologies (NASDAQ:GEHC) to Buy

BTIG Research upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a neutral rating to a buy rating in a research note published on Wednesday, MarketBeat reports. They currently have $100.00 price target on the stock.

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

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $90.28 on Wednesday. The company has a market capitalization of $41.21 billion, a PE ratio of 26.40, a P/E/G ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The company has a 50 day simple moving average of $84.06 and a two-hundred day simple moving average of $83.34.

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

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. 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 (DPR) is currently 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now 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 SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter valued at $229,052,000. Capital Research Global Investors increased its position in shares of GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares during the last quarter. Perpetual Ltd bought a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $96,135,000. Finally, Marshall Wace LLP purchased a new position in shares of GE HealthCare Technologies in the 2nd quarter worth about $63,639,000. 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.