Wolfe Research Begins Coverage on GE HealthCare Technologies (NASDAQ:GEHC)

Investment analysts at Wolfe Research initiated coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “peer perform” rating on the stock.

GEHC has been the subject of a number of other reports. Weiss Ratings upgraded GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. BMO Capital Markets initiated coverage on shares of GE HealthCare Technologies in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a research note on Monday, October 5th. BTIG Research decreased their price target on shares of GE HealthCare Technologies from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Finally, Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.35.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded up $0.64 during mid-day trading on Tuesday, reaching $70.40. The stock had a trading volume of 153,378 shares, compared to its average volume of 4,227,909. The business’s 50 day moving average price is $68.47 and its 200 day moving average price is $66.77. GE HealthCare Technologies has a 1 year low of $58.75 and a 1 year high of $89.77. The company has a market cap of $31.80 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the business posted $1.06 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies will post 4.93 EPS for the current fiscal year.

Institutional Trading of GE HealthCare Technologies

Several institutional investors have recently added to or reduced their stakes in GEHC. Trian Fund Management L.P. grew its stake in shares of GE HealthCare Technologies by 76,194.4% during the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after buying an additional 3,081,300 shares during the last quarter. Mizuho Markets Cayman LP raised its holdings in shares of GE HealthCare Technologies by 173.2% in the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock worth $218,416,000 after buying an additional 1,945,500 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after acquiring an additional 1,571,226 shares during the last quarter. Amundi lifted its stake in shares of GE HealthCare Technologies by 129.9% during the 2nd quarter. Amundi now owns 2,500,094 shares of the company’s stock worth $160,031,000 after acquiring an additional 1,412,453 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in shares of GE HealthCare Technologies by 107.4% during the 3rd quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock worth $177,299,000 after acquiring an additional 1,404,683 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

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.