GE HealthCare Technologies (NASDAQ:GEHC) Upgraded to Buy at BTIG Research

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $100.00 price objective on the stock. BTIG Research’s price objective points to a potential upside of 15.22% from the stock’s current price.

Several other equities analysts have also recently weighed in on GEHC. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target for the company. Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

GE HealthCare Technologies Trading Up 0.2 %

NASDAQ GEHC opened at $86.79 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies has a 12 month low of $62.35 and a 12 month high of $94.50. The company has a market capitalization of $39.62 billion, a PE ratio of 25.38, a P/E/G ratio of 3.26 and a beta of 1.17. The stock has a 50-day simple moving average of $83.26 and a 200 day simple moving average of $83.31.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts forecast that GE HealthCare Technologies will post 4.26 EPS for the current year.

Insider Activity at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $25,000. BNP Paribas acquired a new position in shares of GE HealthCare Technologies in the 1st quarter worth approximately $30,000. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. Rise Advisors LLC raised its stake in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares during the last quarter. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies during the first quarter worth $31,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Company Profile

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.