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

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

GEHC has been the subject of several other reports. Evercore ISI boosted their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an outperform rating in a report on Thursday, April 4th. Morgan Stanley boosted their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an equal weight rating in a report on Monday, February 12th. Mizuho reduced their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a research note on Wednesday. HSBC initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a buy rating and a $100.00 price objective for the company. Finally, UBS Group raised shares of GE HealthCare Technologies from a sell rating to a neutral rating and increased their target price for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $79.47 on Wednesday. The company has a market capitalization of $36.27 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26. The firm has a fifty day simple moving average of $88.25 and a 200-day simple moving average of $78.89. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Equities research analysts anticipate that GE HealthCare Technologies will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. 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 purchased 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its position in shares of GE HealthCare Technologies by 9.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 124,500 shares of the company’s stock worth $8,471,000 after buying an additional 10,515 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of GE HealthCare Technologies by 69.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 78,493 shares of the company’s stock valued at $5,341,000 after acquiring an additional 32,051 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in GE HealthCare Technologies by 10.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 103,284 shares of the company’s stock worth $7,027,000 after purchasing an additional 10,101 shares in the last quarter. Xponance Inc. lifted its position in GE HealthCare Technologies by 8.5% in the third quarter. Xponance Inc. now owns 53,074 shares of the company’s stock worth $3,611,000 after purchasing an additional 4,154 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in GE HealthCare Technologies by 55.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 11,978 shares of the company’s stock valued at $815,000 after purchasing an additional 4,284 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

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.