Is There More Upside Ahead For GE HealthCare Technologies Inc (NASDAQ: GEHC)

GE HealthCare Technologies Inc (GEHC) concluded trading on Wednesday at a closing price of $89.03, with 4.4 million shares of worth about $392.03 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 31.24% during that period and on April 3, 2024 the price saw a gain of about 1.04%. Currently the company’s common shares owned by public are about 455.34M shares, out of which, 421.28M shares are available for trading.

Stock saw a price change of -0.04% in past 5 days and over the past one month there was a price change of -3.99%. Year-to-date (YTD), GEHC shares are showing a performance of 15.14% which increased to 8.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $62.35 but also hit the highest price of $94.50 during that period. The average intraday trading volume for GE HealthCare Technologies Inc shares is 3.61 million. The stock is currently trading -1.73% below its 20-day simple moving average (SMA20), while that difference is up 4.26% for SMA50 and it goes to 17.79% higher than SMA200.

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GE HealthCare Technologies Inc (NASDAQ: GEHC) currently have 455.34M outstanding shares and institutions hold larger chunk of about 70.66% of that.

The stock has a current market capitalization of $40.54B and its 3Y-monthly beta is at 1.22. PE ratio of stock for trailing 12 months is 29.43, while it has posted earnings per share of $3.02 in the same period. Its PEG reads 2.43 and has Quick Ratio of 0.78 while making debt-to-equity ratio of 1.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GEHC, volatility over the week remained 1.82% while standing at 1.86% over the month.

Analysts are in expectations that GE HealthCare Technologies Inc (GEHC) stock would likely to be making an EPS of $0.9 in the current quarter, while forecast for next quarter EPS is $1.01 and it is $4.83 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.87 which is $0.96 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.85 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.28% while it is estimated to increase by 12.53% in next year. EPS is likely to grow at an annualized rate of 12.10% for next 5-years, compared to annual growth of -2.54% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on February 15, 2024 offering a Buy rating for the stock and assigned a target price of $100 to it. Coverage by UBS stated GE HealthCare Technologies Inc (GEHC) stock as a Neutral in their note to investors on February 12, 2024, suggesting a price target of $88 for the stock. On November 30, 2023, Jefferies Initiated their recommendations, while on November 27, 2023, UBS Downgrade their ratings for the stock with a price target of $66. Stock get a Buy rating from Citigroup on September 19, 2023.

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