The Goldman Sachs Group Lowers GE HealthCare Technologies (NASDAQ:GEHC) Price Target to $82.00

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective reduced by analysts at The Goldman Sachs Group from $94.00 to $82.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 16.26% from the company’s previous close.

A number of other equities analysts have also recently issued reports on GEHC. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Citigroup dropped their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI reduced their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.40.

GE HealthCare Technologies Trading Up 4.2 %

GEHC opened at $70.53 on Thursday. The stock has a market cap of $32.29 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a fifty day moving average of $74.34 and a 200-day moving average of $81.43.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that GE HealthCare Technologies will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of GE HealthCare Technologies

Institutional investors have recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. increased its stake in GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after buying an additional 114 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of GE HealthCare Technologies by 6.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after acquiring an additional 114 shares during the last quarter. Haverford Trust Co lifted its holdings in GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock worth $383,000 after acquiring an additional 115 shares during the period. Tandem Capital Management Corp ADV boosted its position in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after purchasing an additional 118 shares during the last quarter. Finally, Arcus Capital Partners LLC grew its stake in GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock valued at $322,000 after purchasing an additional 119 shares during the period. 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.