GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS raised its GE HealthCare price target from $73 to $80 while maintaining a “neutral” rating, implying about 0.6% downside from the reported share price. Analysts’ consensus rating is “Moderate Buy,” with an average target of $80.87.
• GEHC shares rose 1.1% to $80.46, while the company’s latest quarterly results exceeded expectations: earnings were $1.34 per share versus $1.20 expected, and revenue reached $5.51 billion, up 7.2% year over year.
• Institutional investors own 82.06% of GE HealthCare’s stock, with several funds recently initiating or increasing positions.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) had its price target increased by UBS Group from $73.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target points to a potential downside of 0.58% from the stock's current price.

A number of other research firms have also recently commented on GEHC. JPMorgan Chase & Co. lifted their price objective on shares of GE HealthCare Technologies from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. 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 target price for the company. Wells Fargo & Company lifted 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. Barclays lifted their target price on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. Finally, Piper Sandler reiterated a "buy" rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.87.

GE HealthCare Technologies Stock Up 1.1%

GEHC traded up $0.91 during trading on Tuesday, reaching $80.46. 985,820 shares of the stock were exchanged, compared to its average volume of 4,226,827. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 1.30. The stock's 50 day moving average price is $68.55 and its two-hundred day moving average price is $70.03. The stock has a market cap of $36.38 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The business's 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 earnings per share. Equities analysts expect that GE HealthCare Technologies will post 5.02 EPS for the current year.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of GEHC. CenterBook Partners LP acquired a new position in shares of GE HealthCare Technologies in the third quarter worth approximately $5,118,000. Heritage Family Offices LLP bought a new stake in GE HealthCare Technologies in the third quarter valued at approximately $44,000. Calamos Advisors LLC increased its position in GE HealthCare Technologies by 1.1% during the 3rd quarter. Calamos Advisors LLC now owns 107,142 shares of the company's stock valued at $7,004,000 after purchasing an additional 1,125 shares during the period. Alta Advisers Ltd acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $219,000. Finally, Monte Financial Group LLC raised its holdings in GE HealthCare Technologies by 2.1% during the 3rd quarter. Monte Financial Group LLC now owns 26,858 shares of the company's stock worth $1,756,000 after purchasing an additional 562 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

About GE HealthCare Technologies

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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