Mizuho Trims GE HealthCare Technologies (NASDAQ:GEHC) Target Price to $105.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective lowered by Mizuho from $110.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Argus lifted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a buy rating in a report on Monday, April 1st. Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, April 4th. HSBC started coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They set a buy rating and a $100.00 price target for the company. Morgan Stanley lifted their price objective on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Finally, UBS Group upgraded GE HealthCare Technologies from a sell rating to a neutral rating and increased their target price for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of Moderate Buy and an average target price of $95.00.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $79.47 on Wednesday. The business has a 50-day simple moving average of $88.44 and a two-hundred day simple moving average of $78.81. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a market cap of $36.27 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.72 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. On average, analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Activity

In other news, insider Frank R. Jimenez purchased 1,315 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently modified their holdings of GEHC. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after acquiring an additional 5,693,244 shares during the last quarter. Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $229,052,000. Capital Research Global Investors increased its stake in GE HealthCare Technologies by 2.8% in the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after buying an additional 1,401,566 shares during the period. Ameriprise Financial Inc. lifted its holdings in GE HealthCare Technologies by 84.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in GE HealthCare Technologies in the 1st quarter valued at about $96,135,000. 82.06% of the stock is currently 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.