Citigroup Cuts GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $86.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective decreased by Citigroup from $105.00 to $86.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on GEHC. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Piper Sandler reduced their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.40.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $70.53 on Wednesday. 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 52 week low of $57.65 and a 52 week high of $94.80. The firm’s 50 day moving average is $74.34 and its two-hundred day moving average is $81.43. The firm has a market capitalization of $32.29 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business earned $0.90 EPS. GE HealthCare Technologies’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is currently 3.23%.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter valued at about $28,000. Bogart Wealth LLC grew its stake in shares of GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its position in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Finally, LGT Financial Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.