GE HealthCare Technologies (NASDAQ:GEHC) Upgraded to “Buy” at Jefferies Financial Group

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $103.00 target price on the stock, up from their prior target price of $95.00. Jefferies Financial Group’s price target points to a potential upside of 19.41% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus upped their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Evercore ISI raised their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $86.26 on Wednesday. The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.90 and a beta of 1.11. GE HealthCare Technologies has a 1-year low of $71.31 and a 1-year high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business’s fifty day moving average price is $82.29 and its 200-day moving average price is $84.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GEHC. State Street Corp raised its position in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the period. Geode Capital Management LLC raised its holdings in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares during the period. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies in the third quarter worth $268,159,000. Charles Schwab Investment Management Inc. boosted its stake in GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the period. Finally, Van ECK Associates Corp bought a new position in GE HealthCare Technologies during the third quarter valued at $208,513,000. 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.