GE HealthCare Technologies Inc. (NASDAQ:GEHC) Given Consensus Rating of “Moderate Buy” by Analysts

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $88.27.

A number of brokerages have recently commented on GEHC. Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Morgan Stanley dropped their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 31st. Citigroup dropped their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Evercore ISI dropped their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 1st.

Institutional Investors Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $25,000. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $25,000. Bogart Wealth LLC increased its position in GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock valued at $28,000 after buying an additional 247 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC increased its position in GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $74.86 on Friday. The stock has a market capitalization of $34.28 billion, a PE ratio of 15.76, a P/E/G ratio of 2.45 and a beta of 1.13. The business has a 50 day simple moving average of $70.36 and a two-hundred day simple moving average of $77.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. GE HealthCare Technologies has a 1-year low of $57.65 and a 1-year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, research analysts predict that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.