GE HealthCare Technologies (NASDAQ:GEHC) Price Target Raised to $103.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price target hoisted by Wells Fargo & Company from $96.00 to $103.00 in a report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also issued reports on GEHC. Citigroup increased their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $97.67.

GE HealthCare Technologies Stock Down 1.4 %

GEHC stock opened at $92.21 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $42.13 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 2.93 and a beta of 1.15. The business’s fifty day moving average price is $84.03 and its two-hundred day moving average price is $85.54. GE HealthCare Technologies has a fifty-two week low of $74.51 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. On average, equities analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th were issued a dividend of $0.035 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is 3.85%.

Institutional Trading of GE HealthCare Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. boosted its holdings in GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after acquiring an additional 1,159 shares during the last quarter. Cathy Pareto & Associates Inc. bought a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $670,000. LMR Partners LLP bought a new stake in GE HealthCare Technologies in the third quarter valued at approximately $7,387,000. Principal Financial Group Inc. boosted its holdings in GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in GE HealthCare Technologies in the third quarter valued at approximately $1,396,000. 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.