GE HealthCare Technologies (NASDAQ:GEHC) Downgraded by Citigroup to "Neutral"

Key Points

• Citigroup has reaffirmed a "neutral" rating for GE HealthCare Technologies, lowering the price target from $93.00 to $83.00, suggesting an 8.62% potential upside.
• Analyst ratings for the stock are mixed, with six analysts maintaining a "Buy" rating while five have given it a "Hold" rating, indicating a current average rating of "Moderate Buy."
• In its most recent quarter, GE HealthCare reported earnings of $1.06 per share, exceeding expectations, and revenues rose by 3.5% year-over-year to $5 billion.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) was downgraded by analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $83.00 price objective on the stock, down from their previous price objective of $93.00. Citigroup's target price would suggest a potential upside of 8.62% from the company's previous close.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. Zacks Research lowered shares of GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, September 18th. Wall Street Zen downgraded shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Finally, BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.78.

GE HealthCare Technologies Trading Down 0.2%

Shares of GEHC opened at $76.41 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market cap of $34.89 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.93 and a beta of 1.13. GE HealthCare Technologies has a twelve month low of $57.65 and a twelve month high of $94.80. The company's fifty day simple moving average is $74.22 and its 200-day simple moving average is $72.44.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The firm had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company's quarterly revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, analysts expect that GE HealthCare Technologies will post 4.68 EPS for the current year.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GEHC. Glenview Trust co increased its holdings in GE HealthCare Technologies by 4.4% in the 1st quarter. Glenview Trust co now owns 3,294 shares of the company's stock worth $266,000 after buying an additional 139 shares during the period. Silver Oak Securities Incorporated boosted its holdings in shares of GE HealthCare Technologies by 4.6% in the 2nd quarter. Silver Oak Securities Incorporated now owns 3,183 shares of the company's stock valued at $236,000 after acquiring an additional 140 shares during the last quarter. Chicago Capital LLC increased its stake in shares of GE HealthCare Technologies by 2.2% in the second quarter. Chicago Capital LLC now owns 6,551 shares of the company's stock worth $485,000 after acquiring an additional 141 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of GE HealthCare Technologies by 4.2% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 3,557 shares of the company's stock worth $263,000 after purchasing an additional 143 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in GE HealthCare Technologies by 7.4% during the second quarter. Golden State Wealth Management LLC now owns 2,138 shares of the company's stock valued at $158,000 after purchasing an additional 148 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

About GE HealthCare Technologies

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.