GE HealthCare Technologies (NASDAQ:GEHC) Raised to “Hold” at Zacks Research

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on GEHC. Argus decreased their price objective on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. UBS Group boosted their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings lowered GE HealthCare Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $72.28 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a fifty day moving average of $65.34 and a 200-day moving average of $69.82. The stock has a market capitalization of $32.65 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.10 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Equities research analysts expect that GE HealthCare Technologies will post 4.93 EPS for the current year.

Insider Activity

In other GE HealthCare Technologies news, Director Kevin Lobo bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the acquisition, the director directly owned 14,363 shares in the company, valued at $921,817.34. The trade was a 229.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $26,000. Optima Capital LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $27,000. Godfrey Financial Associates Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter valued at approximately $27,000. Montag A & Associates Inc. grew its holdings in shares of GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock worth $28,000 after acquiring an additional 175 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after acquiring an additional 262 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 (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.