GE HealthCare Technologies (NASDAQ:GEHC) Stock Gets Price Target Trim from BTIG Research

GE HealthCare Technologies (NASDAQ:GEHC) had its target price reduced by BTIG Research from $79.00 to $75.00 in a research note released on Monday, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on GEHC. Citigroup reduced their target price on GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. BMO Capital Markets initiated coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price target on the stock. Finally, Evercore reissued an “outperform” rating and issued a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $78.35.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $68.47 on Monday. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.82 and a beta of 0.73. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $68.58 and a 200 day moving average of $66.76.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.04 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies’s payout ratio is currently 3.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mount Vernon Associates Inc. MD increased its position in GE HealthCare Technologies by 0.8% during the first quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after purchasing an additional 144 shares during the last quarter. Essex Financial Services Inc. raised its stake in GE HealthCare Technologies by 1.8% during the first quarter. Essex Financial Services Inc. now owns 9,024 shares of the company’s stock worth $642,000 after purchasing an additional 156 shares during the period. Brown Lisle Cummings Inc. raised its stake in GE HealthCare Technologies by 29.3% during the first quarter. Brown Lisle Cummings Inc. now owns 706 shares of the company’s stock worth $50,000 after purchasing an additional 160 shares during the period. Beacon Financial Advisory LLC raised its stake in GE HealthCare Technologies by 5.8% during the first quarter. Beacon Financial Advisory LLC now owns 2,965 shares of the company’s stock worth $211,000 after purchasing an additional 162 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its holdings in GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 163 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company’s portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.