GE HealthCare Technologies (NASDAQ:GEHC) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

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

Several other equities analysts have also commented on the company. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a neutral rating and a $87.00 price objective on the stock. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a strong-buy rating in a research report on Thursday, August 1st. Finally, 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 price objective for the company. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of Moderate Buy and an average target price of $94.58.

GE HealthCare Technologies Trading Up 1.9 %

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

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company 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%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Sell-side analysts forecast that GE HealthCare Technologies will post 4.26 earnings per share 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. Shareholders of record on Friday, July 19th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. raised its stake in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares during the period. Dimensional Fund Advisors LP boosted its position in GE HealthCare Technologies by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after acquiring an additional 504,287 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $229,052,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

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.