GE HealthCare Technologies (NASDAQ:GEHC) Raised to Buy at The Goldman Sachs Group

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a $100.00 price objective on the stock, up from their prior price objective of $85.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 19.35% from the stock’s previous close.

GEHC has been the topic of several other research reports. Citigroup raised their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.75.

GE HealthCare Technologies Stock Down 2.1 %

Shares of NASDAQ:GEHC opened at $83.79 on Tuesday. GE HealthCare Technologies has a 12 month low of $74.51 and a 12 month high of $94.80. The company’s 50-day moving average price is $87.17 and its two-hundred day moving average price is $86.16. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market cap of $38.32 billion, a P/E ratio of 19.35, a P/E/G ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. As a group, research analysts forecast that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the period. Cathy Pareto & Associates Inc. bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $670,000. LMR Partners LLP acquired a new position in GE HealthCare Technologies in the third quarter valued at about $7,387,000. Principal Financial Group Inc. raised its stake in GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GE HealthCare Technologies in the third quarter valued at about $1,396,000. 82.06% of the stock is owned by 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.