GE HealthCare Technologies (NASDAQ:GEHC) Downgraded by Wall Street Zen to Hold

GE HealthCare Technologies (NASDAQ:GEHC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on GEHC. BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Citigroup increased their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a research note on Thursday. Finally, Zacks Research raised GE HealthCare Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $88.40.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $74.91 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. GE HealthCare Technologies has a 1 year low of $57.65 and a 1 year high of $94.80. The stock’s 50 day simple moving average is $74.53 and its two-hundred day simple moving average is $73.27. The company has a market cap of $34.20 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.83 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities analysts anticipate that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 1.4% in the second quarter. Vanguard Group Inc. now owns 52,107,758 shares of the company’s stock valued at $3,859,622,000 after acquiring an additional 703,903 shares in the last quarter. Dodge & Cox lifted its position in shares of GE HealthCare Technologies by 42.1% in the second quarter. Dodge & Cox now owns 23,567,950 shares of the company’s stock valued at $1,745,678,000 after acquiring an additional 6,982,441 shares in the last quarter. State Street Corp lifted its position in GE HealthCare Technologies by 1.9% during the second quarter. State Street Corp now owns 19,660,742 shares of the company’s stock worth $1,456,271,000 after buying an additional 372,755 shares in the last quarter. Geode Capital Management LLC lifted its position in GE HealthCare Technologies by 2.0% during the second quarter. Geode Capital Management LLC now owns 11,944,407 shares of the company’s stock worth $881,060,000 after buying an additional 231,302 shares in the last quarter. Finally, Norges Bank purchased a new position in GE HealthCare Technologies during the second quarter worth approximately $468,120,000. 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.