Hovde Group Initiates Coverage on GE HealthCare Technologies (NASDAQ:GEHC)

Equities researchers at Hovde Group started coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a note issued to investors on Friday,Benzinga reports. The firm set a “market perform” rating and a $14.00 price target on the stock. Hovde Group’s price objective suggests a potential downside of 77.80% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. UBS Group decreased their target price on GE HealthCare Technologies from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Weiss Ratings downgraded shares of GE HealthCare Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. HSBC lowered their target price on shares of GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.41.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $63.07 on Friday. GE HealthCare Technologies has a twelve month low of $58.75 and a twelve month high of $89.77. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $28.69 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.72 and a beta of 0.72. The firm’s fifty day simple moving average is $63.64 and its 200-day simple moving average is $71.96.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts forecast that GE HealthCare Technologies will post 4.89 EPS for the current fiscal year.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Peter J. Arduini purchased 4,169 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $59.92 per share, for a total transaction of $249,806.48. Following the purchase, the chief executive officer directly owned 259,424 shares in the company, valued at approximately $15,544,686.08. This trade represents a 1.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jimenez acquired 1,750 shares of the stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost of $60.45 per share, for a total transaction of $105,787.50. Following the completion of the transaction, the insider directly owned 93,932 shares in the company, valued at $5,678,189.40. The trade was a 1.90% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 21,847 shares of company stock valued at $1,361,355. 0.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Several hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co increased its position in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after acquiring an additional 33,629,559 shares during the period. Norges Bank acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $533,655,000. Cynosure Group LLC grew its stake in shares of GE HealthCare Technologies by 21,045.4% in the 4th quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock valued at $358,055,000 after purchasing an additional 4,344,817 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $287,627,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.