GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Target Cut by BTIG Research

GE HealthCare Technologies (NASDAQ:GEHC) had its target price lowered by equities researchers at BTIG Research from $79.00 to $75.00 in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 9.03% from the stock’s previous close.

Several other equities analysts also recently issued reports on GEHC. Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of GE HealthCare Technologies in a report on Monday, October 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $93.00 price objective on shares of GE HealthCare Technologies in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.35.

GE HealthCare Technologies Stock Up 1.6%

NASDAQ:GEHC opened at $68.79 on Monday. The company has a market cap of $31.07 billion, a PE ratio of 15.78, a P/E/G ratio of 1.79 and a beta of 0.73. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $68.62 and its two-hundred day moving average is $66.79.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company posted $1.06 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts anticipate that GE HealthCare Technologies will post 4.93 EPS for the current year.

Institutional Investors Weigh In On GE HealthCare Technologies

Hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. grew its position in GE HealthCare Technologies by 2.2% during the 3rd quarter. Salem Investment Counselors Inc. now owns 184,230 shares of the company’s stock worth $12,043,000 after purchasing an additional 3,948 shares during the period. Perpetual Ltd lifted its holdings in shares of GE HealthCare Technologies by 107.4% in the 3rd quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock valued at $177,299,000 after buying an additional 1,404,683 shares during the period. Wedmont Private Capital boosted its stake in shares of GE HealthCare Technologies by 80.3% in the third quarter. Wedmont Private Capital now owns 7,550 shares of the company’s stock worth $485,000 after buying an additional 3,362 shares during the last quarter. Acropolis Investment Management LLC boosted its stake in shares of GE HealthCare Technologies by 137.9% in the third quarter. Acropolis Investment Management LLC now owns 3,939 shares of the company’s stock worth $257,000 after buying an additional 2,283 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of GE HealthCare Technologies by 30.0% in the third quarter. GAMMA Investing LLC now owns 12,961 shares of the company’s stock worth $847,000 after buying an additional 2,990 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company’s portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.