GE HealthCare Technologies (NASDAQ:GEHC) Price Target Raised to $110.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective hoisted by stock analysts at Citigroup from $103.00 to $110.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 17.67% from the stock’s previous close.

Several other analysts have also commented on GEHC. Wells Fargo & Company increased their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.31.

GE HealthCare Technologies Stock Up 8.8 %

GE HealthCare Technologies stock traded up $7.58 during trading hours on Thursday, reaching $93.48. The stock had a trading volume of 7,831,939 shares, compared to its average volume of 2,822,535. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.93 and a beta of 1.15. The business’s 50 day moving average price is $83.58 and its 200-day moving average price is $85.39. GE HealthCare Technologies has a 52 week low of $74.51 and a 52 week high of $94.80. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. Sell-side analysts anticipate that GE HealthCare Technologies will post 4.3 EPS for the current year.

Institutional Trading of GE HealthCare Technologies

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. State Street Corp raised its stake in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after buying an additional 342,819 shares during the period. Invesco Ltd. boosted its stake in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies during the fourth quarter worth about $488,531,000. 82.06% of the stock is 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.