GE HealthCare Technologies (NASDAQ:GEHC) Given New $80.00 Price Target at UBS Group

GE HealthCare Technologies (NASDAQ:GEHC) had its target price hoisted by research analysts at UBS Group from $73.00 to $80.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price objective would suggest a potential downside of 0.58% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Citigroup raised their target price on GE HealthCare Technologies from $71.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday. Wolfe Research started coverage on GE HealthCare Technologies in a research note on Tuesday, October 20th. They issued a “peer perform” rating on the stock. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. BTIG Research raised their price objective on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.87.

GE HealthCare Technologies Trading Up 1.1%

GEHC traded up $0.91 during trading on Tuesday, reaching $80.46. 985,820 shares of the stock traded hands, compared to its average volume of 4,226,827. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average is $68.55 and its 200 day moving average is $70.03. GE HealthCare Technologies has a 12 month low of $58.75 and a 12 month high of $89.77. The stock has a market capitalization of $36.38 billion, a PE ratio of 16.96, a P/E/G ratio of 1.97 and a beta of 0.64.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. Equities analysts anticipate that GE HealthCare Technologies will post 5.02 earnings per share for the current year.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds have recently bought and sold shares of GEHC. NBH Bank purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at about $26,000. Provenance Wealth Advisors LLC boosted its holdings in GE HealthCare Technologies by 401.0% during the third quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company’s stock worth $32,000 after purchasing an additional 393 shares during the last quarter. Global Assets Advisory LLC purchased a new position in GE HealthCare Technologies during the first quarter worth about $37,000. Fortitude Family Office LLC grew its position in GE HealthCare Technologies by 249.1% in the 3rd quarter. Fortitude Family Office LLC now owns 597 shares of the company’s stock worth $39,000 after purchasing an additional 426 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in GE HealthCare Technologies in the 3rd quarter worth about $44,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.