GE HealthCare Technologies (NASDAQ:GEHC) Upgraded by Jefferies Financial Group to Buy Rating

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $103.00 price target on the stock, up from their prior price target of $95.00. Jefferies Financial Group’s price target suggests a potential upside of 23.55% from the company’s current price.

A number of other analysts have also weighed in on the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Price Performance

GEHC stock opened at $83.37 on Wednesday. The firm has a market cap of $38.09 billion, a P/E ratio of 22.90, a P/E/G ratio of 2.90 and a beta of 1.11. The firm’s fifty day moving average is $82.33 and its 200 day moving average is $84.02. GE HealthCare Technologies has a 52 week low of $71.31 and a 52 week high of $94.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts predict that GE HealthCare Technologies will post 4.3 earnings per share for the current year.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by insiders.

Institutional Trading of GE HealthCare Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in GE HealthCare Technologies by 1.9% in the second quarter. Private Advisor Group LLC now owns 27,428 shares of the company’s stock worth $2,137,000 after acquiring an additional 518 shares in the last quarter. Candriam S.C.A. boosted its stake in GE HealthCare Technologies by 1.9% in the 2nd quarter. Candriam S.C.A. now owns 27,309 shares of the company’s stock worth $2,128,000 after purchasing an additional 511 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in GE HealthCare Technologies during the 2nd quarter valued at about $629,000. Ballentine Partners LLC increased its stake in GE HealthCare Technologies by 3.2% during the 2nd quarter. Ballentine Partners LLC now owns 6,630 shares of the company’s stock valued at $517,000 after purchasing an additional 204 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in GE HealthCare Technologies in the second quarter worth about $95,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

About GE HealthCare Technologies

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.