GE HealthCare Technologies Inc. (NASDAQ:GEHC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $88.27.

A number of research firms have issued reports on GEHC. The Goldman Sachs Group cut their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. 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. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Wall Street Zen raised GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Finally, BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th.

GE HealthCare Technologies Stock Up 2.9%

Shares of NASDAQ GEHC opened at $74.86 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The company has a market cap of $34.28 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.45 and a beta of 1.13. GE HealthCare Technologies has a 12 month low of $57.65 and a 12 month high of $94.80. The stock has a 50-day moving average price of $70.36 and a two-hundred day moving average price of $77.70.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts forecast that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its board has authorized a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GEHC. Haverford Trust Co raised its stake in GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after purchasing an additional 115 shares during the period. Intact Investment Management Inc. raised its stake in GE HealthCare Technologies by 15.4% during the 4th quarter. Intact Investment Management Inc. now owns 900 shares of the company’s stock valued at $70,000 after purchasing an additional 120 shares during the period. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock valued at $30,000 after purchasing an additional 123 shares during the period. Integrated Wealth Concepts LLC raised its stake in GE HealthCare Technologies by 0.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company’s stock valued at $1,343,000 after purchasing an additional 126 shares during the period. Finally, Parallel Advisors LLC raised its stake in GE HealthCare Technologies by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company’s stock valued at $558,000 after purchasing an additional 135 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.