Citigroup Has Lowered Expectations for GE HealthCare Technologies (NASDAQ:GEHC) Stock Price

Key Points

• Citigroup lowered its GE HealthCare Technologies price target from $75 to $71 while maintaining a “neutral” rating, implying approximately 8.14% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $78.22; Wells Fargo raised its target to $85 and Needham set a $93 target.
• GE HealthCare reported quarterly adjusted EPS of $1.13, beating estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion. Shares traded around $65.65, well below their 52-week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) had its price target reduced by research analysts at Citigroup from $75.00 to $71.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 8.14% from the company's previous close.

Several other equities analysts have also commented on GEHC. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE HealthCare Technologies in a report on Monday. Oppenheimer restated an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Finally, BMO Capital Markets assumed coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a "market perform" rating and a $70.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $1.36 during midday trading on Monday, hitting $65.65. The company's stock had a trading volume of 1,921,310 shares, compared to its average volume of 4,265,595. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 1.70 and a beta of 0.73. 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 fifty day moving average price of $68.88 and a 200 day moving average price of $67.04. GE HealthCare Technologies has a one year low of $58.75 and a one year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.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. On average, research analysts forecast that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

Institutional Investors Weigh In On GE HealthCare Technologies

Institutional investors have recently modified their holdings of the business. Eastern Bank grew its position in GE HealthCare Technologies by 15.3% in the 3rd quarter. Eastern Bank now owns 1,460 shares of the company's stock worth $95,000 after purchasing an additional 194 shares during the period. CX Institutional lifted its holdings in shares of GE HealthCare Technologies by 10.5% during the 3rd quarter. CX Institutional now owns 4,190 shares of the company's stock valued at $274,000 after buying an additional 399 shares during the period. Versant Capital Management Inc grew its holdings in shares of GE HealthCare Technologies by 29.9% in the third quarter. Versant Capital Management Inc now owns 4,878 shares of the company's stock worth $319,000 after acquiring an additional 1,124 shares during the period. QRG Capital Management Inc. grew its holdings in shares of GE HealthCare Technologies by 9.2% in the second quarter. QRG Capital Management Inc. now owns 44,349 shares of the company's stock worth $2,839,000 after acquiring an additional 3,733 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in GE HealthCare Technologies by 22.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,259 shares of the company's stock valued at $1,873,000 after acquiring an additional 5,368 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Key GE HealthCare Technologies News

Here are the key news stories impacting GE HealthCare Technologies this week:

• Positive Sentiment: GE HealthCare will acquire SOFIE Biosciences, a manufacturer and distributor of radiopharmaceuticals used in PET imaging. The deal is intended to establish a U.S. “final mile” supply footprint, helping GEHC provide radioactive imaging agents closer to hospitals and patients. GE HealthCare to Acquire SOFIE Biosciences
• Positive Sentiment: The acquisition gives GEHC exposure to one of its fastest-growing healthcare markets and could strengthen its medical-imaging ecosystem beyond equipment sales. Investors appear to view the purchase as a strategic growth investment in PET imaging and radiopharmaceutical supply. GE HealthCare Bets $945M on Sofie Biosciences
• Neutral Sentiment: The $945 million all-cash price represents a meaningful capital commitment. While the deal may improve GEHC’s long-term growth profile, investors will assess the acquisition’s financing, integration execution and eventual contribution to earnings. GE HealthCare Agrees to Acquire Sofie Biosciences
• Positive Sentiment: RBC Capital reaffirmed its Buy rating on GEHC, providing additional support for the stock’s investment case. RBC Maintains Buy Rating
• Negative Sentiment: Two law firms announced securities-fraud investigations involving GEHC and solicited shareholders who suffered losses. These releases do not establish wrongdoing, but they add headline and potential legal risk. GEHC Securities-Fraud Investigation

GE HealthCare Technologies Company Profile

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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