GE HealthCare Technologies (NASDAQ:GEHC) Rating Lowered to Sell at UBS Group

GE HealthCare Technologies (NASDAQ:GEHC) was downgraded by analysts at UBS Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $74.00 target price on the stock, down from their previous target price of $84.00. UBS Group’s target price indicates a potential downside of 19.56% from the stock’s previous close.

Several other research firms have also weighed in on GEHC. Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $93.92.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $91.99 on Thursday. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.55. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $41.99 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. The firm has a 50-day moving average price of $85.13 and a 200 day moving average price of $83.32.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. Research analysts anticipate that GE HealthCare Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GEHC. Wynn Capital LLC boosted its position in shares of GE HealthCare Technologies by 4.1% during the first quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock worth $284,000 after purchasing an additional 122 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of GE HealthCare Technologies by 8.7% during 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 in the last quarter. Quarry LP boosted its position in shares of GE HealthCare Technologies by 28.3% during the second quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of GE HealthCare Technologies by 1.8% during the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after acquiring an additional 133 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of GE HealthCare Technologies by 21.3% during the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock worth $71,000 after acquiring an additional 137 shares during the period. 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.