GE HealthCare Technologies (NASDAQ:GEHC) Stock Rating Upgraded by Jefferies Financial Group

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $103.00 price objective on the stock, up from their previous price objective of $95.00. Jefferies Financial Group’s price objective would indicate a potential upside of 19.41% from the company’s previous close.

A number of other equities analysts have also recently commented on GEHC. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company increased 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. Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Price Performance

GEHC opened at $86.26 on Wednesday. The stock has a market capitalization of $39.41 billion, a P/E ratio of 23.70, a PEG ratio of 2.90 and a beta of 1.11. The stock has a 50-day moving average price of $82.29 and a 200-day moving average price of $84.05. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies has a 12-month low of $71.31 and a 12-month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC grew its holdings in shares of GE HealthCare Technologies by 18.4% during the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after buying an additional 119 shares during the last quarter. Greenleaf Trust boosted its stake in GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after purchasing an additional 124 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of GE HealthCare Technologies by 32.0% in the 3rd quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of GE HealthCare Technologies by 8.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after purchasing an additional 127 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of GE HealthCare Technologies by 28.3% during the second quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.