GE HealthCare Technologies (NASDAQ:GEHC) Price Target Raised to $103.00

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) had its price objective increased by analysts at Citigroup from $88.00 to $103.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 14.85% from the stock’s previous close.

Several other equities research analysts have also issued reports on GEHC. Mizuho increased their target price on shares of GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. HSBC initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price for the company. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Finally, Argus raised their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.36.

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GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $1.57 during midday trading on Wednesday, hitting $89.68. 1,747,821 shares of the company’s stock traded hands, compared to its average volume of 3,552,325. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.50. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 3.11 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The firm has a fifty day moving average of $85.97 and a 200 day moving average of $76.14.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fiduciary Trust Co boosted its stake in 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 buying an additional 133 shares during the period. Janney Capital Management LLC lifted its position in shares of GE HealthCare Technologies by 4.7% during the fourth quarter. Janney Capital Management LLC now owns 3,289 shares of the company’s stock worth $254,000 after purchasing an additional 149 shares during the last quarter. American National Bank lifted its position in shares of GE HealthCare Technologies by 25.2% during the fourth quarter. American National Bank now owns 750 shares of the company’s stock worth $58,000 after purchasing an additional 151 shares during the last quarter. Armstrong Henry H Associates Inc. lifted its position in shares of GE HealthCare Technologies by 3.9% during the third quarter. Armstrong Henry H Associates Inc. now owns 4,105 shares of the company’s stock worth $279,000 after purchasing an additional 153 shares during the last quarter. Finally, Chicago Capital LLC lifted its position in shares of GE HealthCare Technologies by 2.8% during the third quarter. Chicago Capital LLC now owns 6,081 shares of the company’s stock worth $414,000 after purchasing an additional 163 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

About GE HealthCare Technologies

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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.

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Analyst Recommendations for GE HealthCare Technologies (NASDAQ:GEHC)

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