HSBC Securities slashes price target on GE HealthCare Technologies Inc [GEHC] – find out why.

GE HealthCare Technologies Inc [NASDAQ: GEHC] stock went on a downward path that fall over -0.47% on Thursday, amounting to a one-week price increase of more than 1.51%. The company report on March 7, 2024 at 9:00 AM that GE HealthCare to Spotlight Industry-Leading AI-Enabled Portfolio and Digital Solutions at HIMSS 2024.

Booth (#2500) will showcase AI-enabled innovations and digital solutions that enhance clinical decision making and provide personalized patient care.

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GE HealthCare (Nasdaq: GEHC) will showcase its industry-leading portfolio of artificial intelligence (AI)-enabled medical devices and digital solutions in Booth 2500 at the Health Information and Management Systems Society (HIMSS) Global Health Conference and Exhibition in Orlando, FL from March 11-15, 2024.

Over the last 12 months, GEHC stock rose by 21.52%. The one-year GE HealthCare Technologies Inc stock forecast points to a potential downside of -1.46. The average equity rating for GEHC stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $42.19 billion, with 455.34 million shares outstanding and 407.44 million shares in the current float. Compared to the average trading volume of 3.22M shares, GEHC stock reached a trading volume of 2987370 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $91.33 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 1.80. 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.

HSBC Securities have made an estimate for GE HealthCare Technologies Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 15, 2024. While these analysts kept the previous recommendation, UBS raised their target price from $66 to $88. The new note on the price target was released on February 12, 2024, representing the official price target for GE HealthCare Technologies Inc stock. Previously, the target price had yet another raise to $80, while Jefferies analysts kept a Hold rating on GEHC stock. On November 27, 2023, analysts decreased their price target for GEHC shares from 86 to 66.

The Average True Range (ATR) for GE HealthCare Technologies Inc is set at 2.34, with the Price to Sales ratio for GEHC stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 5.92, with the Price to Cash per share for the same quarter was set at 5.50. Price to Free Cash Flow for GEHC in the course of the last twelve months was 24.62 with Quick ratio for the last quarter at 0.78.

GEHC Stock Performance Analysis:

GE HealthCare Technologies Inc [GEHC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.51. With this latest performance, GEHC shares gained by 13.06% in over the last four-week period, additionally plugging by 38.34% over the last 6 months – not to mention a rise of 21.52% 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 70.90, with the RSI for the last a single of trading hit 69.97, and the three-weeks RSI is set at 70.09 for GE HealthCare Technologies Inc [GEHC]. The present Moving Average for the last 50 days of trading for this stock 80.59, while it was recorded at 92.60 for the last single week of trading, and 74.62 for the last 200 days.

Insight into GE HealthCare Technologies Inc Fundamentals:

GE HealthCare Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.78 and a Current Ratio set at 1.00.

GEHC Stock EPS

With the latest financial reports released by the company, GE HealthCare Technologies Inc posted 0.85/share EPS, while the average EPS was predicted by analysts to be reported at 0.79/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GEHC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for GE HealthCare Technologies Inc go to 12.10%.

GE HealthCare Technologies Inc [GEHC] Institutonal Ownership Details

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%.