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

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

A number of other analysts have also issued reports on GEHC. Redburn Atlantic upgraded GE HealthCare Technologies to a strong-buy rating in a research note on Thursday, August 1st. 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 price objective on the stock. 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 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a buy rating and a $100.00 target price for the company. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $90.28 on Wednesday. The firm has a market cap of $41.21 billion, a PE ratio of 26.40, a PEG ratio of 3.26 and a beta of 1.17. The stock’s fifty day moving average price is $83.86 and its two-hundred day moving average price is $83.36. 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.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities research analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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 dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies in the 1st quarter worth approximately $25,000. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. BNP Paribas bought a new position in shares of GE HealthCare Technologies in the 1st quarter worth approximately $30,000. Sachetta LLC bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $31,000. Finally, Rise Advisors LLC raised its position in shares of GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares in the last quarter. 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.