GE HealthCare Technologies (NASDAQ:GEHC) Reaches New 1-Year High at $94.08

GE HealthCare Technologies Inc. (NASDAQ:GEHCGet Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $94.08 and last traded at $93.66, with a volume of 1552118 shares traded. The stock had previously closed at $91.81.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. HSBC assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Jefferies Financial Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, November 30th. They issued a “hold” rating and a $80.00 price target on the stock. Mizuho lifted their target price on shares of GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley raised their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Read Our Latest Stock Analysis on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The firm has a market capitalization of $42.19 billion, a P/E ratio of 30.68, a P/E/G ratio of 3.24 and a beta of 0.97. The firm’s 50 day simple moving average is $80.72 and its two-hundred day simple moving average is $73.22.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds have recently modified their holdings of the company. Platinum Investment Management Ltd. purchased a new position in shares of GE HealthCare Technologies in the second quarter valued at about $23,713,000. Federated Hermes Inc. increased its position in shares of GE HealthCare Technologies by 90.4% during the third quarter. Federated Hermes Inc. now owns 77,689 shares of the company’s stock valued at $5,286,000 after buying an additional 36,886 shares during the period. Mackenzie Financial Corp increased its position in shares of GE HealthCare Technologies by 61.0% during the third quarter. Mackenzie Financial Corp now owns 79,989 shares of the company’s stock valued at $5,358,000 after buying an additional 30,301 shares during the period. Teacher Retirement System of Texas increased its position in shares of GE HealthCare Technologies by 74.0% during the third quarter. Teacher Retirement System of Texas now owns 96,540 shares of the company’s stock valued at $6,569,000 after buying an additional 41,057 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in shares of GE HealthCare Technologies by 27.8% during the third quarter. Illinois Municipal Retirement Fund now owns 99,341 shares of the company’s stock valued at $6,759,000 after buying an additional 21,579 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.

About GE HealthCare Technologies

(Get Free Report)

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.

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