GE HealthCare Technologies (NASDAQ:GEHC) Price Target Cut to $71.00 by Analysts at Citigroup

GE HealthCare Technologies (NASDAQ:GEHC) had its price target dropped by analysts at Citigroup from $75.00 to $71.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 8.14% from the company’s current price.

Other analysts have also issued research reports about the company. Evercore reissued an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $79.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday, September 17th. UBS Group increased their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Hovde Group began coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.22.

GE HealthCare Technologies Stock Performance

GEHC stock traded up $1.36 during midday trading on Monday, reaching $65.65. 1,921,310 shares of the company’s stock traded hands, compared to its average volume of 4,265,595. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies has a 52-week low of $58.75 and a 52-week high of $89.77. The stock has a market cap of $29.65 billion, a P/E ratio of 15.06, a PEG ratio of 1.70 and a beta of 0.73. The stock’s 50-day moving average is $68.88 and its 200 day moving average is $67.04.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company posted $1.06 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that GE HealthCare Technologies will post 4.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MV Capital Management Inc. purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at $33,000. NBH Bank bought a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth about $26,000. Hilton Head Capital Partners LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $34,000. MidFirst Bank purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. raised its position in shares of GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 163 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies News Roundup

Here are the key news stories impacting GE HealthCare Technologies this week:

• Positive Sentiment: GE HealthCare will acquire SOFIE Biosciences, a manufacturer and distributor of radiopharmaceuticals used in PET imaging. The deal is intended to establish a U.S. “final mile” supply footprint, helping GEHC provide radioactive imaging agents closer to hospitals and patients. GE HealthCare to Acquire SOFIE Biosciences
• Positive Sentiment: The acquisition gives GEHC exposure to one of its fastest-growing healthcare markets and could strengthen its medical-imaging ecosystem beyond equipment sales. Investors appear to view the purchase as a strategic growth investment in PET imaging and radiopharmaceutical supply. GE HealthCare Bets $945M on Sofie Biosciences
• Neutral Sentiment: The $945 million all-cash price represents a meaningful capital commitment. While the deal may improve GEHC’s long-term growth profile, investors will assess the acquisition’s financing, integration execution and eventual contribution to earnings. GE HealthCare Agrees to Acquire Sofie Biosciences
• Positive Sentiment: RBC Capital reaffirmed its Buy rating on GEHC, providing additional support for the stock’s investment case. RBC Maintains Buy Rating
• Negative Sentiment: Two law firms announced securities-fraud investigations involving GEHC and solicited shareholders who suffered losses. These releases do not establish wrongdoing, but they add headline and potential legal risk. GEHC Securities-Fraud Investigation

GE HealthCare Technologies Company Profile

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.