GE HealthCare Technologies (NASDAQ:GEHC) Stock Gets Price Target Increase from Argus

Key Points

• Argus raised its price target on GE HealthCare Technologies to $110 from $85 and maintained a Buy rating, implying 32.91% upside from the prior close.
• Analyst views are mixed but lean positive: 12 rate the stock Buy and 11 Hold, for a MarketBeat “Moderate Buy” consensus and an average price target of $82.17.
• The company beat quarterly expectations, reporting EPS of $1.34 versus $1.20 expected and revenue of $5.51 billion versus $5.35 billion; revenue grew 7.2% year over year.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) had its price target raised by investment analysts at Argus from $85.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Argus's price target points to a potential upside of 32.91% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Wolfe Research began coverage on GE HealthCare Technologies in a report on Tuesday, October 20th. They issued a "peer perform" rating for the company. Citigroup raised their target price on GE HealthCare Technologies from $71.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, October 29th. Weiss Ratings upgraded GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Needham & Company LLC restated a "buy" rating and set a $93.00 target price on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Finally, Barclays increased their price target on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average price target of $82.17.

GE HealthCare Technologies Trading Down 1.1%

Shares of NASDAQ GEHC opened at $82.76 on Wednesday. GE HealthCare Technologies has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a market capitalization of $37.42 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01. The company's 50 day simple moving average is $69.82 and its 200 day simple moving average is $70.08.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. On average, analysts predict that GE HealthCare Technologies will post 5.02 EPS for the current year.

Institutional Investors Weigh In On GE HealthCare Technologies

Several large investors have recently modified their holdings of the business. Private Wealth Asset Management LLC raised its holdings in GE HealthCare Technologies by 671.8% during the 3rd quarter. Private Wealth Asset Management LLC now owns 3,396 shares of the company's stock worth $222,000 after buying an additional 2,956 shares during the period. WealthTrust Axiom LLC boosted its holdings in shares of GE HealthCare Technologies by 1.1% in the third quarter. WealthTrust Axiom LLC now owns 12,892 shares of the company's stock valued at $843,000 after buying an additional 146 shares during the period. Private Advisor Group LLC increased its position in shares of GE HealthCare Technologies by 96.6% during the third quarter. Private Advisor Group LLC now owns 39,025 shares of the company's stock worth $2,551,000 after acquiring an additional 19,171 shares in the last quarter. Boston Partners increased its position in shares of GE HealthCare Technologies by 20.1% during the third quarter. Boston Partners now owns 6,188,021 shares of the company's stock worth $404,501,000 after acquiring an additional 1,034,674 shares in the last quarter. Finally, Composition Wealth LLC increased its position in shares of GE HealthCare Technologies by 19.1% during the third quarter. Composition Wealth LLC now owns 5,184 shares of the company's stock worth $339,000 after acquiring an additional 833 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc. is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company's products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

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