GE HealthCare Technologies Inc. (NASDAQ:GEHC) Receives $98.75 Consensus Price Target from Brokerages

GE HealthCare Technologies Inc. (NASDAQ:GEHC) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $98.75.

Several research firms recently commented on GEHC. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company boosted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup boosted their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th.

GE HealthCare Technologies Price Performance

GEHC opened at $81.49 on Wednesday. GE HealthCare Technologies has a 52 week low of $74.51 and a 52 week high of $94.80. The firm has a market capitalization of $37.27 billion, a PE ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company has a fifty day moving average price of $87.02 and a two-hundred day moving average price of $86.02.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. As a group, analysts anticipate that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. Cherry Creek Investment Advisors Inc. lifted its stake in shares of GE HealthCare Technologies by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky increased its holdings in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after acquiring an additional 114 shares during the period. Haverford Trust Co increased its holdings in GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock worth $383,000 after acquiring an additional 115 shares during the period. Tandem Capital Management Corp ADV increased its holdings in GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after acquiring an additional 118 shares during the period. Finally, Arcus Capital Partners LLC increased its holdings in GE HealthCare Technologies by 3.0% during the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after acquiring an additional 119 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.