BTIG Research Issues Pessimistic Forecast for GE HealthCare Technologies (NASDAQ:GEHC) Stock Price

Key Points

• BTIG Research lowered its GE HealthCare price target from $79 to $75 while maintaining a “buy” rating, implying roughly 14% upside from the stock’s previous close.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $78.35; ratings include 11 Buys, 10 Holds, and one Strong Buy.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 in earnings per share versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) had its price objective decreased by equities research analysts at BTIG Research from $79.00 to $75.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 14.09% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. UBS Group upped their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Piper Sandler reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Finally, BMO Capital Markets began coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They set a "market perform" rating and a $70.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $78.35.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $65.74 on Monday. The company has a market cap of $29.69 billion, a PE ratio of 15.08, a P/E/G ratio of 1.73 and a beta of 0.73. The firm's 50 day moving average price is $68.68 and its 200-day moving average price is $66.83. 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.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds have recently bought and sold shares of the business. NBH Bank purchased a new position in GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. Physician Wealth Advisors Inc. increased its position in shares of GE HealthCare Technologies by 60.4% during the first quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 163 shares during the period. MV Capital Management Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $33,000. Roble Belko & Company Inc raised its stake in shares of GE HealthCare Technologies by 57.3% in the first quarter. Roble Belko & Company Inc now owns 497 shares of the company's stock valued at $35,000 after acquiring an additional 181 shares in the last quarter. Finally, MidFirst Bank acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company's portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.

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