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

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

Other analysts have also issued research reports about the company. UBS Group upgraded GE HealthCare Technologies from a sell rating to a neutral rating and increased their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. HSBC assumed coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They set a buy rating and a $100.00 target price on the stock. Mizuho reduced their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating for the company in a research report on Wednesday. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Finally, Morgan Stanley increased their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $95.00.

GE HealthCare Technologies Trading Up 2.6 %

NASDAQ:GEHC opened at $78.26 on Wednesday. The stock has a fifty day simple moving average of $88.77 and a 200 day simple moving average of $78.82. The firm has a market capitalization of $35.71 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50. 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 (NASDAQ:GEHC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of GE HealthCare Technologies by 9.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 124,500 shares of the company’s stock worth $8,471,000 after purchasing an additional 10,515 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of GE HealthCare Technologies by 69.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 78,493 shares of the company’s stock worth $5,341,000 after buying an additional 32,051 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of GE HealthCare Technologies by 10.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 103,284 shares of the company’s stock worth $7,027,000 after acquiring an additional 10,101 shares during the last quarter. Xponance Inc. increased its position in GE HealthCare Technologies by 8.5% during the third quarter. Xponance Inc. now owns 53,074 shares of the company’s stock worth $3,611,000 after acquiring an additional 4,154 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in GE HealthCare Technologies by 55.7% during the third quarter. Pinnacle Associates Ltd. now owns 11,978 shares of the company’s stock worth $815,000 after acquiring an additional 4,284 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.