Analysts Set GE HealthCare Technologies Inc. (NASDAQ:GEHC) Target Price at $88.27

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $88.27.

Several brokerages have commented on GEHC. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday, April 14th. Evercore ISI decreased their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. The Goldman Sachs Group dropped their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley dropped their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th.

GE HealthCare Technologies Trading Down 1.3%

NASDAQ GEHC opened at $72.84 on Thursday. The stock has a market capitalization of $33.35 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a 50-day moving average price of $71.77 and a 200 day moving average price of $80.39. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that GE HealthCare Technologies will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has approved a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio is presently 2.95%.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors and hedge funds have recently made changes to their positions in GEHC. CoreFirst Bank & Trust purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new position in GE HealthCare Technologies during the first quarter worth $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies during the fourth quarter worth $28,000. Bogart Wealth LLC increased its position in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock worth $28,000 after buying an additional 247 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its position in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 222 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.