Barclays Begins Coverage on GE HealthCare Technologies (NASDAQ:GEHC)

Key Points

• Barclays initiated coverage on GE HealthCare Technologies with an "equal weight" rating and a price target of $86.00, indicating a potential upside of 19.71% from its previous close.
• GE HealthCare recently reported an earnings per share (EPS) of $1.06, exceeding analyst estimates, with quarterly revenue reaching $5 billion, an increase of 3.5% year-over-year.
• Currently, the stock has a consensus rating of "Moderate Buy," with six analysts recommending a buy and six a hold, and a consensus price target of $85.20.

Equities research analysts at Barclays initiated coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) in a report issued on Monday, MarketBeat Ratings reports. The firm set an "equal weight" rating and a $86.00 price target on the stock. Barclays's target price points to a potential upside of 19.71% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley set a $74.00 price target on GE HealthCare Technologies in a research note on Thursday, September 18th. BTIG Research raised their price target on GE HealthCare Technologies from $87.00 to $89.00 and gave the stock a "buy" rating in a research note on Monday. Zacks Research downgraded GE HealthCare Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Wall Street Zen downgraded GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Finally, Citigroup downgraded GE HealthCare Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $93.00 to $83.00 in a research note on Tuesday, October 7th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.20.

GE HealthCare Technologies Stock Up 1.2%

GE HealthCare Technologies stock opened at $71.84 on Monday. The firm has a market cap of $32.80 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.71 and a beta of 1.13. The stock has a fifty day simple moving average of $74.33 and a two-hundred day simple moving average of $72.16. GE HealthCare Technologies has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Equities analysts predict that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

Hedge Funds Weigh In On GE HealthCare Technologies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 1.4% in the second quarter. Vanguard Group Inc. now owns 52,107,758 shares of the company's stock valued at $3,859,622,000 after acquiring an additional 703,903 shares in the last quarter. Dodge & Cox lifted its position in shares of GE HealthCare Technologies by 42.1% in the second quarter. Dodge & Cox now owns 23,567,950 shares of the company's stock valued at $1,745,678,000 after acquiring an additional 6,982,441 shares in the last quarter. State Street Corp lifted its position in shares of GE HealthCare Technologies by 1.9% in the second quarter. State Street Corp now owns 19,660,742 shares of the company's stock valued at $1,456,271,000 after acquiring an additional 372,755 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GE HealthCare Technologies by 2.0% in the second quarter. Geode Capital Management LLC now owns 11,944,407 shares of the company's stock valued at $881,060,000 after acquiring an additional 231,302 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of GE HealthCare Technologies in the second quarter valued at about $468,120,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.