Barclays Upgrades GE HealthCare Technologies (NASDAQ:GEHC) to Strong-Buy

GE HealthCare Technologies (NASDAQ:GEHC) was upgraded by stock analysts at Barclays to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Several other brokerages have also commented on GEHC. UBS Group upped their price target on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $93.00 price target on shares of GE HealthCare Technologies in a report on Monday. Citigroup lowered their price objective on shares of GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Finally, Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.52.

GE HealthCare Technologies Stock Down 0.7%

Shares of NASDAQ:GEHC opened at $64.22 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a market cap of $29.01 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.71 and a beta of 0.73. The stock’s 50-day moving average price is $68.73 and its two-hundred day moving average price is $66.87. GE HealthCare Technologies has a 12-month low of $58.75 and a 12-month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 EPS. On average, research analysts forecast that GE HealthCare Technologies will post 4.93 EPS for the current year.

Institutional Investors Weigh In On GE HealthCare Technologies

Several large investors have recently made changes to their positions in the business. Acropolis Investment Management LLC raised its stake in shares of GE HealthCare Technologies by 137.9% in the 3rd quarter. Acropolis Investment Management LLC now owns 3,939 shares of the company’s stock valued at $257,000 after acquiring an additional 2,283 shares during the period. GAMMA Investing LLC boosted its position in GE HealthCare Technologies by 30.0% during the 3rd quarter. GAMMA Investing LLC now owns 12,961 shares of the company’s stock worth $847,000 after purchasing an additional 2,990 shares during the period. Farther Finance Advisors LLC increased its holdings in GE HealthCare Technologies by 26.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,788 shares of the company’s stock valued at $705,000 after purchasing an additional 2,243 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 3.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,850 shares of the company’s stock valued at $317,000 after purchasing an additional 163 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in GE HealthCare Technologies by 28.2% in the third quarter. Moody National Bank Trust Division now owns 12,814 shares of the company’s stock valued at $838,000 after purchasing an additional 2,817 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company’s portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.