GE HealthCare Technologies (NASDAQ:GEHC) Trading 0.3% Higher – Time to Buy?

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price was up 0.3% on Friday . The stock traded as high as $77.67 and last traded at $77.67. Approximately 1,476,253 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 3,049,545 shares. The stock had previously closed at $77.43.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Up 1.9 %

The company has a fifty day moving average of $84.64 and a two-hundred day moving average of $83.72. The company has a market cap of $36.05 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.85%.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies during the 2nd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Finally, Elkhorn Partners Limited Partnership bought a new position in shares of GE HealthCare Technologies during the 2nd quarter worth $31,000. 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.