GE HealthCare Technologies (NASDAQ:GEHC) Given New $86.00 Price Target at Bank of America

GE HealthCare Technologies (NASDAQ:GEHC) had its target price reduced by Bank of America from $94.00 to $86.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on GEHC. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Argus lifted their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a buy rating in a research report on Monday, April 1st. UBS Group upgraded shares of GE HealthCare Technologies from a sell rating to a neutral rating and upped their target price for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Citigroup lifted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $79.47 on Wednesday. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.72 and a beta of 1.26. The business has a 50 day moving average price of $88.44 and a 200 day moving average price of $78.81. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Several institutional investors have recently modified their holdings of the business. BNP Paribas acquired a new stake in GE HealthCare Technologies during the 1st quarter worth approximately $30,000. Rise Advisors LLC lifted its position in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares in the last quarter. Riverview Trust Co bought a new position in GE HealthCare Technologies in the first quarter valued at $31,000. Annapolis Financial Services LLC grew its holdings in GE HealthCare Technologies by 171.9% during the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after purchasing an additional 220 shares during the period. Finally, First Command Advisory Services Inc. boosted its stake in GE HealthCare Technologies by 36,900.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock valued at $25,000 after purchasing an additional 369 shares during the period. 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.