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

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

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

GE HealthCare Technologies Stock Performance

Shares of GEHC 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 company has a 50-day simple moving average of $82.31 and a 200-day simple moving average of $84.04. The company has a market capitalization of $39.41 billion, a PE ratio of 23.70, a P/E/G ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly 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. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. Equities research analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insider Activity

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 $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. Private Advisor Group LLC lifted its stake in shares of GE HealthCare Technologies by 1.9% in the 2nd quarter. Private Advisor Group LLC now owns 27,428 shares of the company’s stock valued at $2,137,000 after purchasing an additional 518 shares in the last quarter. Candriam S.C.A. lifted its position in GE HealthCare Technologies by 1.9% during the second quarter. Candriam S.C.A. now owns 27,309 shares of the company’s stock valued at $2,128,000 after buying an additional 511 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in GE HealthCare Technologies during the second quarter worth approximately $629,000. Ballentine Partners LLC increased its position in shares of GE HealthCare Technologies by 3.2% in the second quarter. Ballentine Partners LLC now owns 6,630 shares of the company’s stock worth $517,000 after acquiring an additional 204 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at $95,000. Institutional investors and hedge funds 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.