GE HealthCare Technologies (NASDAQ:GEHC) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a sell rating to a neutral rating in a report published on Monday morning, Marketbeat reports. They currently have $73.00 target price on the stock, down from their prior target price of $74.00.

Several other brokerages have also recently issued reports on GEHC. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Citigroup reduced their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Piper Sandler dropped their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $88.27.

GE HealthCare Technologies Stock Up 2.6 %

GEHC stock opened at $68.86 on Monday. The stock’s 50 day simple moving average is $73.10 and its 200 day simple moving average is $80.97. The company has a market cap of $31.53 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. GE HealthCare Technologies has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, research analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 2.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GEHC. N.E.W. Advisory Services LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at $25,000. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $25,000. Bogart Wealth LLC lifted its holdings in shares of GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after purchasing an additional 247 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $28,000. Finally, Stonebridge Financial Group LLC grew its stake in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the last quarter. Hedge funds and other 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.