GE HealthCare Technologies (NASDAQ:GEHC) Given New $103.00 Price Target at Wells Fargo & Company

GE HealthCare Technologies (NASDAQ:GEHC) had its price target increased by Wells Fargo & Company from $96.00 to $103.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on GEHC. Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.85.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $92.21 on Friday. The firm’s 50 day moving average is $84.03 and its two-hundred day moving average is $85.51. GE HealthCare Technologies has a 52 week low of $74.51 and a 52 week high of $94.80. The firm has a market capitalization of $42.13 billion, a P/E ratio of 25.33, a PEG ratio of 2.93 and a beta of 1.15. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. Analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 14th were paid a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. boosted its stake in GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the period. Cathy Pareto & Associates Inc. acquired a new position in GE HealthCare Technologies in the 4th quarter worth approximately $670,000. LMR Partners LLP acquired a new position in GE HealthCare Technologies in the 3rd quarter worth approximately $7,387,000. Principal Financial Group Inc. boosted its stake in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after purchasing an additional 19,010 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GE HealthCare Technologies in the 3rd quarter worth approximately $1,396,000. Institutional investors and hedge funds 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.