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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research raised 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. 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 research report on Thursday, October 31st. 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. Finally, Stifel Nicolaus lifted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.00.

GE HealthCare Technologies Price Performance

The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The company has a fifty day moving average price of $82.33 and a two-hundred day moving average price of $84.02. The company has a market cap of $39.38 billion, a P/E ratio of 23.68, a PEG ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is an increase 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 related news, CEO Roland Rott sold 3,577 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, 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 filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC raised its position in GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in GE HealthCare Technologies in the third quarter valued at about $31,000. Finally, Continuum Advisory LLC grew its position in GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.