GE HealthCare Technologies (NASDAQ:GEHC) PT Raised to $102.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective increased by Stifel Nicolaus from $100.00 to $102.00 in a report released on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. UBS Group cut GE HealthCare Technologies from a neutral rating to a sell rating and lowered their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a neutral rating and a $90.00 price target for the company. Redburn Atlantic raised GE HealthCare Technologies to a strong-buy rating in a report on Thursday, August 1st. Finally, BTIG Research raised GE HealthCare Technologies from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $94.08.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $93.85 on Monday. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.55. The firm has a market capitalization of $42.84 billion, a PE ratio of 27.44, a PEG ratio of 3.40 and a beta of 1.17. The business’s 50 day moving average is $85.39 and its 200-day moving average is $83.26. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Sell-side analysts predict that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds have recently made changes to their positions in GEHC. Pathway Financial Advisers LLC bought a new stake in GE HealthCare Technologies in the first quarter worth approximately $25,000. BNP Paribas bought a new stake in GE HealthCare Technologies in the first quarter worth approximately $30,000. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies in the second quarter worth approximately $26,000. Rise Advisors LLC increased its holdings in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in GE HealthCare Technologies in the first quarter worth approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

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.