Evercore ISI Raises GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $102.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective lifted by Evercore ISI from $98.00 to $102.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

GEHC has been the subject of several other reports. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a buy rating in a research report on Monday. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a neutral rating and a $90.00 target price for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a strong-buy rating in a research report on Thursday, August 1st. UBS Group downgraded GE HealthCare Technologies from a neutral rating to a sell rating and dropped their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, BTIG Research raised GE HealthCare Technologies from a neutral rating to a buy rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of Moderate Buy and an average price target of $94.23.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $89.88 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.55. The company has a market cap of $41.03 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.40 and a beta of 1.17. The business has a fifty day simple moving average of $85.83 and a 200 day simple moving average of $83.33.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. On average, sell-side analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its holdings in GE HealthCare Technologies by 38.8% in the third quarter. Park Avenue Securities LLC now owns 4,058 shares of the company’s stock worth $381,000 after acquiring an additional 1,135 shares in the last quarter. Farmers Trust Co. bought a new position in GE HealthCare Technologies in the third quarter worth approximately $221,000. Czech National Bank boosted its holdings in GE HealthCare Technologies by 15.0% in the third quarter. Czech National Bank now owns 93,026 shares of the company’s stock worth $8,730,000 after acquiring an additional 12,147 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in GE HealthCare Technologies by 8.4% in the third quarter. Central Pacific Bank Trust Division now owns 5,348 shares of the company’s stock worth $502,000 after acquiring an additional 415 shares in the last quarter. Finally, M&R Capital Management Inc. bought a new position in GE HealthCare Technologies in the third quarter worth approximately $33,000. Institutional investors own 82.06% of the company’s stock.

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.