Citigroup Increases GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $89.00

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) had its price target boosted by stock analysts at Citigroup from $86.00 to $89.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 16.72% from the company's previous close.

Other research analysts have also issued reports about the stock. Evercore ISI decreased their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price target for the company from $74.00 to $73.00 in a research note on Monday, May 5th. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Finally, Morgan Stanley decreased their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded up $0.74 during trading on Wednesday, reaching $76.25. 100,138 shares of the company's stock traded hands, compared to its average volume of 3,519,560. GE HealthCare Technologies has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $34.91 billion, a PE ratio of 16.02, a P/E/G ratio of 2.53 and a beta of 1.14. The company has a 50-day simple moving average of $72.09 and a 200-day simple moving average of $77.41.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period last year, the firm earned $0.90 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts predict that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has authorized a share buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of GE HealthCare Technologies

Several institutional investors have recently made changes to their positions in the company. Swedbank AB raised its position in shares of GE HealthCare Technologies by 71.9% during the 2nd quarter. Swedbank AB now owns 128,101 shares of the company's stock valued at $9,488,000 after buying an additional 53,575 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of GE HealthCare Technologies by 2.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,933 shares of the company's stock valued at $4,217,000 after buying an additional 1,420 shares during the period. Lineweaver Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at approximately $592,000. Radnor Capital Management LLC raised its position in shares of GE HealthCare Technologies by 5.1% during the 2nd quarter. Radnor Capital Management LLC now owns 9,933 shares of the company's stock valued at $736,000 after buying an additional 478 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of GE HealthCare Technologies by 0.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 31,855 shares of the company's stock valued at $2,360,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.