BTIG Research Reiterates “Buy” Rating for GE HealthCare Technologies (NASDAQ:GEHC)

GE HealthCare Technologies (NASDAQ:GEHC)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They presently have a $79.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 8.77% from the company’s previous close.

GEHC has been the subject of a number of other reports. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Rothschild & Co Redburn dropped their price target on GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. BMO Capital Markets assumed coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price objective for the company. Finally, Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $72.63 on Wednesday. GE HealthCare Technologies has a 52 week low of $58.75 and a 52 week high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market cap of $32.81 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69. The company’s 50-day moving average price is $66.01 and its two-hundred day moving average price is $69.63.

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, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. As a group, sell-side analysts anticipate that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

Insider Activity at GE HealthCare Technologies

In other news, Director Kevin Lobo purchased 10,000 shares of GE HealthCare Technologies stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the transaction, the director 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 legal filing with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC increased its holdings in GE HealthCare Technologies by 2.4% in the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company’s stock valued at $430,000 after purchasing an additional 125 shares during the period. United Community Bank lifted its holdings in GE HealthCare Technologies by 10.2% during the 4th quarter. United Community Bank now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 130 shares during the period. Parkside Financial Bank & Trust lifted its holdings in GE HealthCare Technologies by 3.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company’s stock worth $293,000 after buying an additional 134 shares during the period. Quadrant Capital Group LLC grew its position in shares of GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company’s stock valued at $1,030,000 after buying an additional 140 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD grew its position in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock valued at $1,293,000 after buying an additional 144 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

About GE HealthCare Technologies

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.