GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Up 3.7% – Time to Buy?

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) rose 3.7% during trading on Wednesday . The stock traded as high as $86.60 and last traded at $86.46. Approximately 551,008 shares changed hands during trading, a decline of 79% from the average daily volume of 2,621,133 shares. The stock had previously closed at $83.37.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $103.00 in a report on Wednesday. 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 raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Stifel Nicolaus upped 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. Finally, Evercore ISI boosted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Stock Down 1.7 %

The stock has a market cap of $38.72 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. The stock’s 50-day moving average is $82.29 and its 200-day moving average is $84.05. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.87 billion. During the same quarter last year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research 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. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Several hedge funds have recently made changes to their positions in GEHC. Quent Capital LLC lifted its holdings in shares of GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after purchasing an additional 119 shares in the last quarter. Greenleaf Trust lifted its position in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after purchasing an additional 124 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 32.0% during the third quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the period. EverSource Wealth Advisors LLC increased its stake in GE HealthCare Technologies by 8.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after buying an additional 127 shares during the period. Finally, Quarry LP lifted its position in GE HealthCare Technologies by 28.3% in the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Company Profile

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.