Citigroup Boosts GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $110.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective increased by Citigroup from $103.00 to $110.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 19.29% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.85.

GE HealthCare Technologies Price Performance

GEHC stock opened at $92.21 on Thursday. The stock has a market capitalization of $42.13 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The company’s 50-day moving average is $84.03 and its 200-day moving average is $85.51. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies has a 1 year low of $74.51 and a 1 year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. Equities research analysts expect that GE HealthCare Technologies will post 4.3 EPS for the current fiscal year.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after buying an additional 2,608,066 shares during the last quarter. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after purchasing an additional 342,819 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of GE HealthCare Technologies by 18.4% during the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Hedge funds and other institutional investors 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.