GE HealthCare Technologies (NASDAQ:GEHC) PT Raised to $102.00 at Evercore ISI

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective increased by investment analysts at Evercore ISI from $98.00 to $102.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 12.04% from the stock’s previous close.

A number of other brokerages have also weighed in on GEHC. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued 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 price objective on the stock in a report on Wednesday, September 18th. 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 research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.23.

GE HealthCare Technologies Trading Down 0.7 %

NASDAQ GEHC opened at $91.04 on Tuesday. GE HealthCare Technologies has a 52 week low of $62.35 and a 52 week high of $94.55. The company has a 50 day moving average price of $85.83 and a 200 day moving average price of $83.33. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market cap of $41.56 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17.

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

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. Capital Research Global Investors boosted its stake in shares of GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after purchasing an additional 471,910 shares during the period. Goldman Sachs Group Inc. increased its position in shares of GE HealthCare Technologies by 41.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock valued at $145,021,000 after buying an additional 550,612 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of 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 worth $97,088,000 after buying an additional 189,956 shares during the period. Institutional investors and hedge funds 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.