GE HealthCare Technologies (NASDAQ:GEHC) Price Target Raised to $96.00 at Wells Fargo & Company

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective upped by Wells Fargo & Company from $95.00 to $96.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also commented on GEHC. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $86.95 on Thursday. GE HealthCare Technologies has a twelve month low of $66.39 and a twelve month high of $94.55. The company has a market capitalization of $39.72 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 3.25 and a beta of 1.24. The firm has a 50 day moving average of $88.61 and a 200 day moving average of $83.43. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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. Capital Research Global Investors raised its position in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares during the period. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $208,513,000. The Manufacturers Life Insurance Company boosted its holdings in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after acquiring an additional 189,956 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in GE HealthCare Technologies by 2.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after purchasing an additional 20,776 shares during the period. 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.