Zacks Research Downgrades GE HealthCare Technologies (NASDAQ:GEHC) to Hold

Key Points

• Zacks Research downgraded GE HealthCare Technologies from a "strong-buy" to a "hold" rating in a recent report, signaling a shift in investment sentiment.
• Despite the downgrade, Citigroup raised its price target for the stock from $89.00 to $93.00, maintaining a "buy" rating, indicating mixed analyst perspectives.
• Currently, GE HealthCare Technologies has a consensus rating of "Moderate Buy" with an average target price of $86.89, reflecting analysts' varied outlooks on the company's future performance.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

GEHC has been the subject of several other research reports. Citigroup upped their price target on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Wall Street Zen downgraded shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Finally, Morgan Stanley set a $74.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.89.

GE HealthCare Technologies Trading Up 2.8%

GEHC stock opened at $75.10 on Monday. The company's 50-day simple moving average is $74.30 and its 200-day simple moving average is $72.67. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies has a 52-week low of $57.65 and a 52-week high of $94.80. The firm has a market cap of $34.29 billion, a P/E ratio of 15.39, a PEG ratio of 2.79 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the company posted $1.00 EPS. The company's revenue for the quarter 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, equities analysts forecast that GE HealthCare Technologies will post 4.68 EPS for the current fiscal year.

Institutional Trading of GE HealthCare Technologies

Hedge funds have recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. Allianz SE grew its stake in shares of GE HealthCare Technologies by 165.2% in the 2nd quarter. Allianz SE now owns 350 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the period. Bogart Wealth LLC grew its stake in shares of GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after buying an additional 247 shares during the period. Stonebridge Financial Group LLC grew its stake in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $34,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.