GE HealthCare Technologies (NASDAQ:GEHC) Given New $96.00 Price Target at Wells Fargo & Company

GE HealthCare Technologies (NASDAQ:GEHC) had its price objective upped by analysts at Wells Fargo & Company from $95.00 to $96.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.90% from the stock’s current price.

GEHC has been the topic of several other research reports. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $0.15 during midday trading on Thursday, hitting $87.35. 3,179,403 shares of the company’s stock traded hands, compared to its average volume of 3,010,177. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The firm has a fifty day moving average of $88.51 and a 200 day moving average of $83.42. GE HealthCare Technologies has a 1 year low of $65.77 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the company posted $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

Insider Activity at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Trading of GE HealthCare Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Capital Research Global Investors raised its position in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after purchasing an additional 2,647,204 shares during the period. Van ECK Associates Corp bought a new stake in GE HealthCare Technologies in the third quarter worth about $208,513,000. Marshall Wace LLP purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at approximately $63,639,000. Finally, Jacobs Levy Equity Management Inc. grew its position in GE HealthCare Technologies by 4,959.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.