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

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

Other equities analysts have also recently issued reports about the stock. Morgan Stanley boosted their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an equal weight rating in a research note on Monday, February 12th. UBS Group upgraded shares of GE HealthCare Technologies from a sell rating to a neutral rating and boosted their price target for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Mizuho reduced their price objective 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. Argus boosted their target price 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. Finally, Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Trading Up 2.1 %

NASDAQ GEHC opened at $79.47 on Wednesday. The firm’s fifty day moving average is $88.44 and its two-hundred day moving average is $78.81. GE HealthCare Technologies has a one year low of $62.35 and a one year high of $94.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The firm has a market cap of $36.27 billion, a PE ratio of 22.76, a P/E/G ratio of 2.72 and a beta of 1.26.

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 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 the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. Analysts expect that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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 paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Essex LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter valued at $218,000. Mediolanum International Funds Ltd purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $8,750,000. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of GE HealthCare Technologies by 9.2% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,486 shares of the company’s stock valued at $408,000 after purchasing an additional 377 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in GE HealthCare Technologies by 7.1% in the first quarter. Chevy Chase Trust Holdings LLC now owns 235,436 shares of the company’s stock valued at $21,403,000 after purchasing an additional 15,522 shares during the last quarter. Finally, Wellington Shields Capital Management LLC boosted its stake in GE HealthCare Technologies by 10.5% in the 1st quarter. Wellington Shields Capital Management LLC now owns 3,323 shares of the company’s stock worth $302,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors 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.