Market Analysts see GE HealthCare Technologies Inc [GEHC] gaining to $80. Time to buy?

GE HealthCare Technologies Inc [NASDAQ: GEHC] traded at a low on Wednesday, posting a -2.88 loss after which it closed the day’ session at $71.55. The company report on January 18, 2024 at 8:38 AM that GE HealthCare to Announce Fourth Quarter and Full Year 2023 Results on February 6, 2024.

GE HealthCare (Nasdaq: GEHC), a leader in precision care innovation, will announce its fourth quarter and full year 2023 financial results before the market opens on Tuesday, February 6, 2024. The GE HealthCare management team will also host a conference call and webcast at 8:30 a.m. Eastern Time on that same day, which will be a live webcast and accessible at https://investor.gehealthcare.com/news-events/events. The earnings release, accompanying financial information, and webcast replay will also all be posted at the same link on the GE HealthCare Investor Relations website.

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The results of the trading session contributed to over 3478296 shares changing hands. Over the past one week, the price volatility of GE HealthCare Technologies Inc stands at 2.20% while the volatility over the past one month is 1.92%.

The market cap for GEHC stock reached $32.57 billion, with 453.93 million shares outstanding and 392.43 million shares in the current float. Compared to the average trading volume of 2.71M shares, GEHC reached a trading volume of 3478296 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about GE HealthCare Technologies Inc [GEHC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GEHC shares is $83.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GEHC stock is a recommendation set at 1.93. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for GE HealthCare Technologies Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 30, 2023.

The Average True Range (ATR) for GE HealthCare Technologies Inc is set at 1.63, with the Price to Sales ratio for GEHC stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 4.57, with the Price to Cash per share for the same quarter was set at 5.31. Price to Free Cash Flow for GEHC in the course of the last twelve months was 18.90 with Quick ratio for the last quarter at 0.92.

How has GEHC stock performed recently?

GE HealthCare Technologies Inc [GEHC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.65. With this latest performance, GEHC shares dropped by -7.31% in over the last four-week period, additionally sinking by -10.80% over the last 6 months – not to mention a rise of 2.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GEHC stock in for the last two-week period is set at 36.88, with the RSI for the last a single of trading hit 28.97, and the three-weeks RSI is set at 42.56 for GE HealthCare Technologies Inc [GEHC]. The present Moving Average for the last 50 days of trading for this stock 73.43, while it was recorded at 73.50 for the last single week of trading, and 74.11 for the last 200 days.

GE HealthCare Technologies Inc [GEHC]: Deeper insight into the fundamentals

GE HealthCare Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.92 and a Current Ratio set at 1.20.

Insider trade positions for GE HealthCare Technologies Inc [GEHC]

The top three institutional holders of GEHC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GEHC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GEHC stock with ownership which is approximately 5.8325%.