Argus Forecasts Strong Price Appreciation for GE HealthCare Technologies (NASDAQ:GEHC) Stock

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) had its price objective raised by research analysts at Argus from $85.00 to $110.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus‘s price objective suggests a potential upside of 32.91% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Hovde Group initiated coverage on GE HealthCare Technologies in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. Wolfe Research initiated coverage on shares of GE HealthCare Technologies in a report on Tuesday, October 20th. They issued a “peer perform” rating on the stock. Barclays boosted their price objective on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.17.

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GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $82.76 on Wednesday. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. The stock’s 50-day moving average is $69.82 and its 200-day moving average is $70.08. GE HealthCare Technologies has a one year low of $58.75 and a one year high of $89.77. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. GE HealthCare Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts predict that GE HealthCare Technologies will post 5.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. State Street Corp increased its holdings in shares of GE HealthCare Technologies by 1.6% in the second quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after purchasing an additional 323,090 shares during the last quarter. 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 buying an additional 1,571,226 shares during the last quarter. Boston Partners boosted its holdings in shares of GE HealthCare Technologies by 20.1% during the 3rd quarter. Boston Partners now owns 6,188,021 shares of the company’s stock worth $404,501,000 after buying an additional 1,034,674 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of GE HealthCare Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock worth $384,219,000 after buying an additional 105,995 shares during the period. Finally, Van ECK Associates Corp grew its stake in GE HealthCare Technologies by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock valued at $286,933,000 after buying an additional 177,028 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

About GE HealthCare Technologies

(Get Free Report)

GE HealthCare Technologies Inc. is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

Further Reading

Analyst Recommendations for GE HealthCare Technologies (NASDAQ:GEHC)

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