Piper Sandler Cuts GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $88.00

GE HealthCare Technologies (NASDAQ:GEHC) had its target price cut by Piper Sandler from $104.00 to $88.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently commented on GEHC. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Citigroup increased their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.50.

GE HealthCare Technologies Stock Up 2.0 %

GEHC stock opened at $68.42 on Wednesday. The company has a 50 day moving average of $76.59 and a two-hundred day moving average of $82.19. The company has a market cap of $31.33 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies has a 12-month low of $57.65 and a 12-month high of $94.80. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. On average, equities analysts anticipate that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued 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 is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.23%.

Institutional Trading of GE HealthCare Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of GEHC. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $488,531,000. Capital Research Global Investors raised its holdings in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after acquiring an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of GE HealthCare Technologies by 107.3% in the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the period. Vanguard Group Inc. grew its holdings in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares in the last quarter. Finally, Eminence Capital LP bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $102,574,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.