GE HealthCare Technologies (NASDAQ:GEHC) Coverage Initiated at Stifel Nicolaus

Research analysts at Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 26.04% from the stock’s current price.

GEHC has been the topic of a number of other research reports. Bank of America lowered their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.58.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $79.34 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 3.00 and a beta of 1.17. The company’s fifty day moving average is $79.02 and its 200 day moving average is $82.59.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. GE HealthCare Technologies’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies will post 4.27 EPS for the current year.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jan Makela sold 20,227 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at $5,167,296.36. The disclosure for this sale can be found here. Insiders have sold 93,232 shares of company stock worth $7,591,282 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of GE HealthCare Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wynn Capital LLC raised its position in shares of GE HealthCare Technologies by 4.1% during the 1st quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock valued at $284,000 after buying an additional 122 shares in the last quarter. Byrne Asset Management LLC raised its position in shares of GE HealthCare Technologies by 0.8% during the 1st quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock valued at $1,493,000 after buying an additional 126 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of GE HealthCare Technologies by 7.7% during the 1st quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock valued at $168,000 after buying an additional 133 shares in the last quarter. Fiduciary Trust Co raised its position in shares of GE HealthCare Technologies by 1.8% during the 4th quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock valued at $595,000 after buying an additional 133 shares in the last quarter. Finally, Quent Capital LLC raised its position in GE HealthCare Technologies by 21.3% in the 1st quarter. Quent Capital LLC now owns 780 shares of the company’s stock worth $71,000 after purchasing an additional 137 shares during the period. 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.