GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Up 7.4% on Earnings Beat

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price was up 7.4% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $93.08 and last traded at $92.29. Approximately 1,453,963 shares traded hands during trading, a decline of 44% from the average daily volume of 2,598,397 shares. The stock had previously closed at $85.90.

The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Analyst Ratings Changes

GEHC has been the topic of a number of research reports. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.77.

Institutional Investors Weigh In On GE HealthCare Technologies

Institutional investors have recently bought and sold shares of the business. LGT Financial Advisors LLC boosted its position in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter worth approximately $28,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock 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 stock has a fifty day simple moving average of $83.58 and a two-hundred day simple moving average of $85.39. The stock has a market cap of $42.23 billion, a PE ratio of 25.34, a PEG ratio of 2.93 and a beta of 1.15.

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.