GE HealthCare Technologies (NASDAQ:GEHC) Price Target Increased to $102.00 by Analysts at Evercore ISI

GE HealthCare Technologies (NASDAQ:GEHC) had its target price upped by research analysts at Evercore ISI from $98.00 to $102.00 in a note issued to investors 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 11.04% from the stock’s previous close.

A number of other brokerages also recently issued reports on GEHC. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, 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 on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $1.99 during mid-day trading on Tuesday, reaching $91.86. The company had a trading volume of 1,198,445 shares, compared to its average volume of 3,083,421. The stock has a market capitalization of $41.93 billion, a P/E ratio of 26.91, a PEG ratio of 3.40 and a beta of 1.17. The stock has a 50 day moving average of $85.39 and a two-hundred day moving average of $83.26. 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 52-week low of $62.35 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion for 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%. GE HealthCare Technologies’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, analysts expect that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

Insider Activity at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value 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 SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. 9258 Wealth Management LLC increased its stake in GE HealthCare Technologies by 5.7% during the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after acquiring an additional 176 shares during the last quarter. Bank of Nova Scotia increased its stake in GE HealthCare Technologies by 29.4% during the fourth quarter. Bank of Nova Scotia now owns 48,847 shares of the company’s stock worth $3,777,000 after acquiring an additional 11,103 shares during the last quarter. California State Teachers Retirement System increased its stake in GE HealthCare Technologies by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 667,316 shares of the company’s stock worth $51,597,000 after acquiring an additional 21,461 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of GE HealthCare Technologies by 41.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 483,822 shares of the company’s stock worth $37,409,000 after buying an additional 142,053 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. CIBC Asset Management Inc now owns 118,162 shares of the company’s stock worth $9,136,000 after buying an additional 640 shares during the period. 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.