GE HealthCare Technologies (NASDAQ:GEHC) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has $103.00 price objective on the stock, up from their previous price objective of $95.00.

Other analysts have also recently issued research reports about the stock. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI lifted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.00.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $86.26 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 52-week low of $71.31 and a 52-week high of $94.55. The firm has a market cap of $39.41 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. The company’s 50 day moving average is $82.31 and its two-hundred day moving average is $84.04.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the business posted $0.99 earnings per share. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. On average, research analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed 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 is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade 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 currently owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Several large investors have recently modified their holdings of GEHC. State Street Corp lifted its stake in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the period. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares during the period. D1 Capital Partners L.P. acquired a new stake in GE HealthCare Technologies in the third quarter valued at about $268,159,000. Charles Schwab Investment Management Inc. lifted its position in GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after purchasing an additional 290,019 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the 3rd quarter valued at approximately $208,513,000. 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.