Brokerages Set GE HealthCare Technologies Inc. (NASDAQ:GEHC) PT at $88.27

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $88.27.

A number of research analysts have weighed in on GEHC shares. Citigroup dropped their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI dropped their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Piper Sandler dropped their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $74.00 to $73.00 in a research note on Monday, May 5th.

GE HealthCare Technologies Trading Down 0.6%

NASDAQ GEHC traded down $0.39 on Monday, hitting $70.15. The company's stock had a trading volume of 2,396,175 shares, compared to its average volume of 3,447,766. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies has a 1-year low of $57.65 and a 1-year high of $94.80. The company's 50-day moving average is $68.96 and its 200 day moving average is $79.03. The firm has a market cap of $32.12 billion, a PE ratio of 16.20, a PEG ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. As a group, analysts predict that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

GE HealthCare Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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. Capital Research Global Investors raised its stake in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. raised its stake in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC raised its stake in GE HealthCare Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after purchasing an additional 342,819 shares in the last quarter. Invesco Ltd. raised its stake in shares of GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after acquiring an additional 1,252,613 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $488,531,000. 82.06% of the stock is owned by hedge funds and other 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.