GE HealthCare Technologies (NASDAQ:GEHC) Trading Up 0.5% – Time to Buy?

GE HealthCare Technologies Inc. (NASDAQ:GEHC) traded up 0.5% on Monday . The company traded as high as $81.78 and last traded at $81.48. 391,840 shares changed hands during trading, a decline of 87% from the average session volume of 3,041,197 shares. The stock had previously closed at $81.10.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Down 1.0 %

The firm has a market cap of $36.68 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm’s fifty day moving average is $85.84 and its two-hundred day moving average is $83.78.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of large investors have recently bought and sold shares of the business. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies during the third quarter worth approximately $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies during the second quarter valued at approximately $31,000. 82.06% of the stock is currently 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.