GE HealthCare Technologies (NASDAQ:GEHC) Raised to Buy at 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 report issued on Wednesday, MarketBeat reports. The firm currently has a $103.00 price target on the stock, up from their previous price target of $95.00. Jefferies Financial Group’s price target points to a potential upside of 23.55% from the company’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $83.37 on Wednesday. The firm has a market capitalization of $38.09 billion, a P/E ratio of 22.90, a P/E/G ratio of 2.90 and a beta of 1.11. The firm’s 50-day moving average price is $82.33 and its 200-day moving average price is $84.02. 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 1-year low of $71.31 and a 1-year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results 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. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its stake in GE HealthCare Technologies by 30.2% in the 4th quarter. Nordea Investment Management AB now owns 43,632 shares of the company’s stock worth $3,429,000 after buying an additional 10,116 shares in the last quarter. Everence Capital Management Inc. grew its position in GE HealthCare Technologies by 118.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock worth $1,475,000 after acquiring an additional 10,220 shares in the last quarter. GAMMA Investing LLC increased its stake in GE HealthCare Technologies by 4.6% in the fourth quarter. GAMMA Investing LLC now owns 8,016 shares of the company’s stock valued at $627,000 after acquiring an additional 355 shares during the last quarter. Versant Capital Management Inc raised its position in GE HealthCare Technologies by 19.0% during the fourth quarter. Versant Capital Management Inc now owns 6,125 shares of the company’s stock valued at $479,000 after purchasing an additional 980 shares in the last quarter. Finally, Cacti Asset Management LLC lifted its stake in GE HealthCare Technologies by 9.4% during the fourth quarter. Cacti Asset Management LLC now owns 2,916 shares of the company’s stock worth $229,000 after purchasing an additional 250 shares during the last quarter. 82.06% of the stock is currently 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.