GE HealthCare Technologies (NASDAQ:GEHC) Coverage Initiated by Analysts at Wolfe Research

Key Points

• Wolfe Research initiated coverage of GE HealthCare Technologies with a “peer perform” rating, while the broader analyst consensus remains “Moderate Buy” with an average price target of $78.35.
• GEHC shares rose 0.9% to $70.40, with the stock trading between a 52-week range of $58.75 to $89.77 and carrying a market capitalization of approximately $31.8 billion.
• The company exceeded quarterly expectations, reporting $1.13 in EPS versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year; institutional investors own 82.06% of the shares.

Analysts at Wolfe Research started coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a "peer perform" rating on the stock.

GEHC has been the topic of several other reports. Needham & Company LLC restated a "buy" rating and set a $93.00 price target on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Barclays raised shares of GE HealthCare Technologies to a "strong-buy" rating in a research note on Wednesday, October 7th. Evercore reiterated an "outperform" rating and set a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Wells Fargo & Company raised their price target 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. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of GE HealthCare Technologies in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and an average target price of $78.35.

GE HealthCare Technologies Trading Up 0.9%

Shares of GE HealthCare Technologies stock traded up $0.64 during trading on Tuesday, reaching $70.40. The company's stock had a trading volume of 153,378 shares, compared to its average volume of 4,227,909. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies has a 52-week low of $58.75 and a 52-week high of $89.77. The firm's 50-day moving average is $68.47 and its two-hundred day moving average is $66.77. The company has a market cap of $31.80 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.84 and a beta of 0.73.

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 analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. 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, sell-side analysts anticipate that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

Institutional Trading of GE HealthCare Technologies

Several institutional investors and hedge funds have recently bought and sold shares of GEHC. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of GE HealthCare Technologies by 2.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,083 shares of the company's stock valued at $3,928,000 after purchasing an additional 1,274 shares during the period. BDF Gestion purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $1,492,000. TD Waterhouse Canada Inc. raised its stake in GE HealthCare Technologies by 5.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 608,890 shares of the company's stock worth $39,015,000 after acquiring an additional 29,752 shares during the period. V Square Quantitative Management LLC raised its holdings in GE HealthCare Technologies by 13.2% during the third quarter. V Square Quantitative Management LLC now owns 7,680 shares of the company's stock valued at $502,000 after acquiring an additional 894 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in GE HealthCare Technologies by 1,606.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 236,295 shares of the company's stock valued at $15,447,000 after buying an additional 222,446 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company's portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

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