GE HealthCare Technologies (NASDAQ:GEHC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded GE HealthCare Technologies from “strong sell” to “hold.” The broader analyst consensus is also “hold,” with a target price of approximately $77.73.
• GE HealthCare reported quarterly EPS of $1.13, beating expectations of $1.04, while revenue reached $5.29 billion and increased 5.8% year over year.
• The stock opened at $72.28, with a 12-month range of $58.75 to $89.77. Director Kevin Lobo also purchased 10,000 shares, while institutional investors own 82.06% of the company.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada began coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 price target for the company. BTIG Research upped their price objective on shares of GE HealthCare Technologies from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. BMO Capital Markets initiated coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 target price on the stock. The Goldman Sachs Group reissued a "neutral" rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Finally, Barclays lowered their price target on GE HealthCare Technologies from $87.00 to $78.00 and set an "equal weight" rating for the company in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $77.73.

GE HealthCare Technologies Price Performance

GEHC stock opened at $72.28 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The company's fifty day simple moving average is $65.34 and its 200 day simple moving average is $69.82. GE HealthCare Technologies has a 12-month low of $58.75 and a 12-month high of $89.77. The firm has a market cap of $32.65 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.10 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. On average, analysts expect that GE HealthCare Technologies will post 4.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kevin Lobo bought 10,000 shares of GE HealthCare Technologies stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $64.18 per share, with a total value of $641,800.00. Following the transaction, the director directly owned 14,363 shares of the company's stock, valued at approximately $921,817.34. The trade was a 229.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.36% of the company's stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several institutional investors and hedge funds have recently bought and sold shares of GEHC. Laurel Wealth Advisors LLC purchased a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $26,000. Optima Capital LLC bought a new stake in GE HealthCare Technologies in the 4th quarter valued at about $27,000. Godfrey Financial Associates Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter valued at about $27,000. Montag A & Associates Inc. lifted its holdings in GE HealthCare Technologies by 105.4% during the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after purchasing an additional 262 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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