GE HealthCare Technologies (NASDAQ:GEHC) Given “Buy” Rating at BTIG Research

GE HealthCare Technologies (NASDAQ:GEHC)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a note issued to investors on Wednesday,Benzinga reports. They currently have a $79.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 8.77% from the company’s current price.

GEHC has been the subject of a number of other reports. HSBC decreased their price target on GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Hovde Group initiated coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Mizuho lowered their target price on GE HealthCare Technologies from $90.00 to $80.00 in a report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Trading Up 0.4%

NASDAQ:GEHC opened at $72.63 on Wednesday. The firm’s fifty day moving average is $66.01 and its 200-day moving average is $69.63. 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 firm has a market cap of $32.81 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.13 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the company posted $1.06 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

Insider Activity

In other news, Director Kevin Lobo bought 10,000 shares of GE HealthCare Technologies stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the purchase, the director directly owned 14,363 shares in the company, valued at approximately $921,817.34. This represents a 229.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company’s stock valued at $4,287,658,000 after acquiring an additional 267,058 shares in the last quarter. Auto Owners Insurance Co lifted its holdings in shares of GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Dodge & Cox grew its position in GE HealthCare Technologies by 13.4% in the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after purchasing an additional 3,693,918 shares during the period. Capital Research Global Investors grew its position in GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after purchasing an additional 389,796 shares during the period. Finally, State Street Corp increased its stake in GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock valued at $1,644,475,000 after purchasing an additional 401,932 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.