GE HealthCare Technologies (NASDAQ:GEHC) Lowered to Sell at UBS Group

GE HealthCare Technologies (NASDAQ:GEHC) was downgraded by investment analysts at UBS Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $74.00 target price on the stock, down from their prior target price of $84.00. UBS Group’s target price suggests a potential downside of 20.44% from the stock’s current price.

GEHC has been the topic of several other reports. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus started coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. 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 target on the stock. Finally, BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.92.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $93.01 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies has a 1-year low of $62.35 and a 1-year high of $94.50. The stock has a market capitalization of $42.46 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.40 and a beta of 1.17. The business has a 50-day moving average price of $84.67 and a two-hundred day moving average price of $83.26.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts predict that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors have recently bought and sold shares of GEHC. Vanguard Group Inc. raised its holdings in shares of GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Perpetual Ltd acquired a new position in shares of GE HealthCare Technologies during the 1st quarter worth about $96,135,000. Marshall Wace LLP bought a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at about $63,639,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of GE HealthCare Technologies by 4,959.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares during the last quarter. 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.